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, Aug 10 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2400 | 1.2600 | 1.2200 | Bullish | Bullish | Sideways | ||
| Alexander Chepurkó | 1.2500 | 1.2580 | 1.2440 | Bullish | Bullish | Sideways | ||
| Ani Salama | 1.2150 | 1.2100 | 1.1900 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 1.2539 | 1.2710 | 1.2288 | Bullish | Bullish | Sideways | ||
| Bancolombia Investigaciones y Estrategias | - | 1.2170 | - | Sideways | Bearish | Sideways | ||
| Claudiu Cazacu | 1.2270 | 1.2450 | 1.2580 | Sideways | Bullish | Bullish | ||
| Danske Research Team | - | - | 1.2400 | Sideways | Sideways | Sideways | ||
| Esteban Mora | 1.2500 | 1.2700 | 1.3000 | Bullish | Bullish | Bullish | ||
| Gonçalo Moreira, CMT | 1.2500 | 1.2850 | 1.2900 | Bullish | Bullish | Bullish | ||
| Gregor Horvat | 1.2100 | 1.1900 | 1.2600 | Bearish | Bearish | Bullish | ||
| Hugo Venter | 1.2000 | 1.2000 | 1.1500 | Bearish | Bearish | Bearish | ||
| ICN.com analysis team | 1.2600 | 1.2735 | 1.3040 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 1.2150 | 1.2000 | 1.2000 | Bearish | Bearish | Bearish | ||
| Joshua Martinez | 1.2483 | 1.2604 | 1.2200 | Bullish | Bullish | Sideways | ||
| Mauricio Carrillo | 1.2500 | 1.2640 | 1.2200 | Bullish | Bullish | Sideways | ||
| Rabobank Financial Markets Research Team | - | 1.2000 | 1.2200 | - | Bearish | Sideways | ||
| RBS Team | - | - | 1.2500 | Sideways | Sideways | Bullish | ||
| TD Securities Research Team | - | - | 1.2200 | Sideways | Sideways | Sideways | ||
| UBS FX Research Team | - | 1.2000 | 1.2000 | Sideways | Bearish | Bearish | ||
| UniCredit Research | - | - | 1.2000 | Sideways | Sideways | Bearish | ||
| Valeria Bednarik | 1.2140 | 1.2000 | 1.1870 | Bearish | Bearish | Bearish | ||
| Westpac Institutional Bank Team | - | 1.2500 | - | Sideways | Bullish | Sideways | ||
| Yohay Elam | 1.2200 | 1.2100 | 1.2500 | Bearish | Bearish | Bullish | ||
| Average | 1.2335 | 1.2349 | 1.2310 | Sideways | Sideways | Sideways | ||
Recovery since July 24 is in three waves, that is contra-trend movement called a zig-zag. Weakness in view, especially after 1.2040 trend-line break. Analysis on Fxstreet: http://bit.ly/O8aMxU
We expect that the Euro may have completed a fourth wave consolidation period and that it is within the early stages of a new five wave impulse to the downside. Once this downwards impulse completes then we should see a much larger sideways correction lasting 2 to 4 weeks.
"Settling above 1.2270 is the key for the bullish scenario"
After its nice rally and price correction, we should see the EUR resuming its downtrend, including a potential revisit of its fair value range $1.15-$1.20 in the not too distant future.
The EURUSD is showing a bullish crown on the daily. Expecting bullish movement.
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.
Eurodollar continue to defy as it bounced off its two year lows above the 1.20 level and now looks set for a further leg up in this short term recovery, possibly as far as 1.2750 area where it is likely to run out of steam once again.