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One year outlook for EUR
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One year outlook for EUR
Wed, Jun 28 2006, 12:44 GMT
by Nicole Elliott
One year outlook for EUR
Comment: Currency moves over the next year are likely to be as big as they have been so far this year. Against the US dollar expect the Euro to fluctuate by five to ten cents monthly, causing chart levels not to hold neatly as well as ‘extensions’ and ‘spikes’. With a little luck the 1.1700 area will hold in Q4 2005, causing a squeeze back up to 1.2500 by year-end. Then more consolidation between 1.2000 and 1.3000 in H1 2006. By the end of Q3 2006 the Euro should be trading closer to 1.3500.The longer we hold below 1.2500, the greater the chance of a deeper pullback to 1.1500 and maybe 1.1000. From there we would favour a very steady rally back up to 1.3000.
Published on Wed, Jun 28 2006, 12:41 GMT
Archive
- Euro should spend Q1 2009 getting used to current levels and consolidating between 1.2500 and 1.5000
Published On Thu, Jan 8 2009, 17:57 GMT - One year outlook for EUR
Published On Mon, Jun 16 2008, 14:09 GMT - One year outlook for EUR
Published On Wed, Jun 28 2006, 07:44 GMT
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
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