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, Sep 07 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2450 | 1.2300 | 1.2100 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 1.2752 | 1.2814 | 1.2478 | Bearish | Sideways | Bearish | ||
| Claudiu Cazacu | 1.2690 | 1.2580 | 1.2640 | Bearish | Bearish | Bearish | ||
| Danske Research Team | - | - | 1.2700 | - | - | Sideways | ||
| DBS Group Research | - | 1.1600 | 1.1800 | - | Bearish | Bearish | ||
| Esteban Mora | 1.2700 | 1.3000 | 1.3500 | Bearish | Bullish | Bullish | ||
| GFM Research Private Limited | 1.2420 | 1.2800 | 1.2920 | Bearish | Sideways | Sideways | ||
| Hugo Venter | 1.2650 | 1.2000 | 1.1500 | Bearish | Bearish | Bearish | ||
| ICN.com analysis team | 1.2730 | 1.3040 | 1.3040 | Bearish | Bullish | Bullish | ||
| Ilian Yotov | 1.2400 | 1.2000 | 1.2000 | Bearish | Bearish | Bearish | ||
| J.P. Morgan Global FX Strategy | - | 1.2200 | 1.2400 | - | Bearish | Bearish | ||
| Joshua Martinez | 1.2400 | 1.2950 | 1.3200 | Bearish | Bullish | Bullish | ||
| Mauricio Carrillo | 1.2871 | 1.3000 | 1.2500 | Bullish | Bullish | Bearish | ||
| NAB Global Markets Research | - | 1.2600 | 1.3300 | - | Bearish | Bullish | ||
| Rabobank Financial Markets Research Team | - | 1.2200 | 1.2400 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | 1.2000 | 1.1900 | - | Bearish | Bearish | ||
| RBS Team | - | 1.2500 | 1.2000 | - | Bearish | Bearish | ||
| Ross Yamashita | 1.2800 | - | 1.2400 | Sideways | - | Bearish | ||
| Scotiabank FX Strategy Team | - | 1.2100 | 1.2300 | - | Bearish | Bearish | ||
| TD Securities Research Team | - | 1.2200 | 1.1800 | - | Bearish | Bearish | ||
| UBS FX Research Team | - | 1.2500 | 1.2000 | - | Bearish | Bearish | ||
| Valeria Bednarik | 1.2930 | 1.2660 | 1.2440 | Bullish | Bearish | Bearish | ||
| Yohay Elam | 1.2700 | 1.2500 | 1.2700 | Bearish | Bearish | Sideways | ||
| Average | 1.2653 | 1.2454 | 1.2436 | Bearish | Bearish | Bearish | ||
We expect the Euro is within the final impulse to the upside to complete the complex fourth wave correction and that we are likely to see the start of a new impulse lower on Wednesday or Thursday.
Settling above 1.2470 is the key for the bullish scenario
The EUR is facing a couple of tough months in September/October and should resume its downtrend, especially if the U.S. economic data continues to disprove QE3 expectations.
EUR/USD has started to bounce back up bullish from the weekly support.
Assuming the German constitutional court approves the ESM, the euro will rally even if QE3 is not announced.
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.
Unbridled market euphoria as Draghi and the ECB rode to the rescue of the euro with the latest plan. Let's hope plan number 26 is better than the previous 25. From a technical perspective the eurodollar is now delicately poised beneath resistance in the 1.27 region but given the nice platform of support now below we should expect to see this breached in the short term and a move to re-test the 1.30 high over the next few weeks.