Every week, we are publishing the Experts Forecast Currencies Poll. A pool of selected traders and analysts gives us their targets for the major currencies for the week, month and quarter to come. They also indicate the whole trend in these periods.
The report includes a visual table for each pair, as well as the comments that the experts might have added to their analysis.
Agree or disagree? Comments? Your own forecast? Post your thoughts in the Forecasts discussion group!
| EURUSD | 1 Week | 1 Month | 1 Quarter | 1 Week | 1 Month | 1 Quarter | ||
|---|---|---|---|---|---|---|---|---|
| Levels | Trend | |||||||
| ©FXstreet.com | Fri, Jul 06 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2250 | 1.2350 | 1.2000 | Sideways | Sideways | Bearish | ||
| Alberto Muñoz,PhD | 1.2500 | 1.2780 | 1.3100 | Bullish | Bullish | Bullish | ||
| Anna Coulling | 1.2260 | 1.2903 | 1.3287 | Sideways | Bullish | Bullish | ||
| Derek Frey, CTA | 1.2550 | 1.2500 | 1.2750 | Bullish | Bullish | Bullish | ||
| Dr. S. Sivaraman | 1.2845 | 1.3176 | 1.3876 | Bullish | Bullish | Bullish | ||
| Esteban Mora | 1.2300 | 1.2200 | 1.2000 | Sideways | Bearish | Bearish | ||
| Gonçalo Moreira, CMT | 1.2550 | 1.3150 | 1.3000 | Bullish | Bullish | Bullish | ||
| Hugo Venter | 1.2550 | 1.1900 | 1.1300 | Bullish | Bearish | Bearish | ||
| ICN.com analysis team | 1.2270 | 1.2000 | 1.2600 | Sideways | Bearish | Bullish | ||
| Ilian Yotov | 1.2300 | 1.2000 | 1.2000 | Sideways | Bearish | Bearish | ||
| Mauricio Carrillo | 1.2200 | 1.2780 | 1.2000 | Bearish | Bullish | Bearish | ||
| Valeria Bednarik | 1.2140 | 1.2050 | 1.1830 | Bearish | Bearish | Bearish | ||
| Yohay Elam | 1.2300 | 1.2100 | 1.2400 | Sideways | Bearish | Sideways | ||
| Average | 1.2386 | 1.2453 | 1.2473 | Bullish | Bullish | Bullish | ||
"Summer Dolldrums"
After month beginning extended downward stop hunt - aggressive rise and upward spikes may be seen in coming days
The Euro is likely within a new impulse to the downside and we expect to see the pair move lower over the next week to complete a higher degree third wave that should then be followed by about a week of sideways movement within a fourth wave.
"Settling above 1.2600 will invalidate the bearish possibility"
The direction of the EUR and the USD next week will be driven by what the market focuses on the most- the problems in the EU or the potential for QE3 in the U.S. It looks like it could be yet another range-bound week for the EUR/USD pair...
The rally lasted longer this time, but it's over. Weak economies, high funding costs for Italy and Spain and cracks in the EU summit agreement all weigh on the euro.
Risk Disclosure
This forecast has just an informative meaning and cannot be treated as the guide to action, signal, recommendation or an offer to carry out certain trading operation. The experts of this poll expresses personal opinions and will not assume any responsibility whatsoever for the actions of the reader.We always aim for maximum accuracy, and FXstreet.com cannot be held responsible for inaccurate information or typos.
Look for eurusd to test 1.2286 of late May. A drop through here will see the pair move back to 1.20 lows of 2010.