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.
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| EURUSD | 1 Week | 1 Month | 1 Quarter | 1 Week | 1 Month | 1 Quarter | ||
|---|---|---|---|---|---|---|---|---|
| Levels | Trend | |||||||
| ©FXstreet.com | Fri, Aug 17 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2450 | 1.2650 | 1.2200 | Bullish | Bullish | Sideways | ||
| Ani Salama | 1.2200 | 1.2100 | 1.1900 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 1.2511 | 1.2710 | 1.2288 | Bullish | Bullish | Sideways | ||
| Bancolombia Investigaciones y Estrategias | - | - | 1.2170 | Sideways | Sideways | Sideways | ||
| Claudiu Cazacu | 1.2210 | 1.2470 | 1.2600 | Bearish | Bullish | Bullish | ||
| Danske Research Team | - | 1.2500 | 1.2700 | Sideways | Bullish | Bullish | ||
| Derek Frey, CTA | 1.2250 | 1.1900 | 1.2400 | Bearish | Bearish | Sideways | ||
| Gavin Grier-Rees | 1.2300 | 1.2000 | 1.1000 | Sideways | Bearish | Bearish | ||
| Gonçalo Moreira, CMT | 1.2400 | 1.2850 | 1.2900 | Bullish | Bullish | Bullish | ||
| Hugo Venter | 1.2300 | 1.2000 | 1.1500 | Sideways | 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 | 1.2400 | Bullish | Bullish | Sideways | ||
| Mauricio Carrillo | 1.2550 | 1.2700 | 1.2200 | Bullish | Bullish | Sideways | ||
| Rabobank Financial Markets Research Team | - | 1.2000 | 1.2000 | Sideways | Bearish | Bearish | ||
| Ross Yamashita | 1.2450 | 1.2700 | 1.3000 | Bullish | Bullish | Bullish | ||
| TD Securities Research Team | - | - | 1.2200 | Sideways | Sideways | Sideways | ||
| UBS FX Research Team | - | 1.2000 | 1.2000 | Sideways | Bearish | Bearish | ||
| Valeria Bednarik | 1.2250 | 1.2040 | 1.1870 | Bearish | Bearish | Bearish | ||
| Wells Fargo Research Team | - | - | 1.2700 | Sideways | Sideways | Bullish | ||
| Westpac Institutional Bank Team | - | 1.2200 | - | Sideways | Bearish | Sideways | ||
| Yohay Elam | 1.2400 | 1.2000 | 1.2500 | Bullish | Bearish | Bullish | ||
| Average | 1.2367 | 1.2324 | 1.2265 | Bullish | Sideways | Sideways | ||
Eurodollar continues to defy the markets, continuing to claw its way higher and in the process has created a series of higher lows with key resistance now in place at the 1.2440 region. Providing this is breached then we can expect to see the eurodollar recover further, possibly to re-test the 1.2733 region in due course.
The crisis had abated until September when economic difficulties will again threaten the single currency.
It seems that the consolidation period we expected to be complete last week, may not have been and the pair could continue sideways and slightly higher this week to complete this consolidation fourth wave.
Settling above 1.2270 is the key for the bullish scenario
The EUR is facing a tough month of September and should resume its downtrend, including a potential revisit of its fair value range $1.15-$1.20.
The EURUSD is giving deep waves on the daily time frame, but making higher highs and higher lows.
Can’t sustain rallies
A formal Spanish aid request or the hopes of one should keep the euro strong, while another round of the Greek crisis will likely hit the pair later on.
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.
Support at 1.2250 was tested but not broken and the rebound should take the EUR/USD higher. Still much depends on central bank actions, which can turn around the whole scenario