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 31 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2700 | 1.2400 | 1.2200 | Bullish | Bearish | Bearish | ||
| ANZ FX Strategy Team | - | 1.2500 | 1.2500 | Sideways | Bearish | Sideways | ||
| BoA FX, Rates and Commodities Team | - | 1.1800 | 1.1500 | - | Bearish | Bearish | ||
| Claudiu Cazacu | 1.2530 | 1.2480 | 1.2610 | Bearish | Bearish | Sideways | ||
| Danske Research Team | - | 1.2700 | - | Sideways | Bullish | Sideways | ||
| GFM Research Private Limited | 1.2420 | 1.2800 | 1.2920 | Bearish | Bullish | Bullish | ||
| Hugo Venter | 1.2650 | 1.2000 | 1.1500 | Bullish | Bearish | Bearish | ||
| ICN.com analysis team | 1.2735 | 1.2735 | 1.3040 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 1.2250 | 1.2000 | 1.2000 | Bearish | Bearish | Bearish | ||
| Joshua Martinez | 1.2604 | 1.2700 | 1.2900 | Sideways | Bullish | Bullish | ||
| Malik Khan | 1.3500 | 1.2900 | 1.2500 | Bullish | Bullish | Sideways | ||
| Mauricio Carrillo | 1.2850 | 1.3000 | 1.2200 | Bullish | Bullish | Bearish | ||
| Rabobank Financial Markets Research Team | - | 1.2200 | 1.2400 | Sideways | Bearish | Bearish | ||
| RBS Team | - | 1.2500 | 1.2000 | Sideways | Bearish | Bearish | ||
| Ross Yamashita | 1.2600 | 1.2300 | 1.2000 | Sideways | Bearish | Bearish | ||
| Scotiabank FX Strategy Team | - | 1.2100 | 1.2300 | - | Bearish | Bearish | ||
| TD Securities Research Team | - | 1.2200 | 1.1900 | Sideways | Bearish | Bearish | ||
| UBS FX Research Team | - | 1.2500 | 1.2000 | Sideways | Bearish | Bearish | ||
| Valeria Bednarik | 1.2750 | 1.2620 | 1.2240 | Bullish | Sideways | Bearish | ||
| Westpac Institutional Bank Team | - | 1.2200 | - | - | Bearish | - | ||
| Yohay Elam | 1.2400 | 1.2200 | 1.2700 | Bearish | Bearish | Sideways | ||
| Average | 1.2666 | 1.2421 | 1.2285 | Bullish | Bearish | Bearish | ||
According to our analysis the fourth wave correction is unfolding as a complex structure and further sideways and upwards movement is expected for the next week within the Euro.
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, especially if the ECB refrains from announcing more bond purchases on September 6 and the U.S. economic data continues to disprove QE3 expectations.
The EUR/USD daily time frame is starting to reverse bullish to the north. I'm expecting the bulls to continue their hike upward.
Europe has kicked the can down the road and we will soon see these issues will be rising again and this time, the ECB ammunition chest will be a lot emptier than it is now.
Assuming Bernanke doesn't say anything new, some of the hot air in the euro will leave for now. Later on, progress in Spain could boost the pair significantly.
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.
Euro could have to endure headwinds net week, even if J Hole signals more QE. Yet we expect clear wording from Draghi that lowers peripheral yields and pushes Euro back to favor towards the end of the week, while NFP data would not be seen as dollar positive.