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Last week was very interesting, many macro-economic news and many major companies published their 2010 results. The generally good business figures and positive news about the German economy have ensured a considerable rise in EUR/USD. In the beginning of the week we have seen 1.3230, the closing level Friday was 1.3620 (highest level of the week). A very legitimate question is whether this is the trend for the next few weeks? We think not, especially considering the agenda for next week. We further explain this in next week forecast section (see below).
The Swiss Franc continued to weaken in January, for example the EUR/CHF below 1.25 now above 1.30 arrived. As we have indicated the end of December, the CHF in the first half of 2011 will be the weakest currency.
Our return fluctuated, it satisfies us that the return remains 20%. On Thursday we have seen almost 29%. We are now around 25%. The month of January makes us very happy. We do not cheer too soon, because we still have one week to go and we also want the result to continue for the coming months.
Forecast next week
The movements of the past week are not a trend our eyes. The coming week might determine the trend for the coming months. There is very important because macroeconomic news on the agenda. Next week might bring possible bad news about European countries, in addition, we expect that the U.S. GDP to be better than generally expected. We expect EUR/USD 1.20-1.25 level in the coming months. We will consider a price 1.37-1.40 before we begin to see our targets.
