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, Sep 14 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2900 | 1.3100 | 1.2800 | Bearish | Sideways | Bearish | ||
| Alberto Muñoz,PhD | 1.3280 | 1.3380 | 1.3480 | Bullish | Bullish | Bullish | ||
| Anna Coulling | 1.3297 | 1.2814 | 1.2478 | Bullish | Bearish | Bearish | ||
| Claudiu Cazacu | 1.3150 | 1.2900 | 1.3000 | Sideways | Bearish | Sideways | ||
| Danske Research Team | - | - | 1.2700 | - | - | Bearish | ||
| DBS Group Research | - | - | 1.2800 | - | - | Bearish | ||
| Esteban Mora | 1.3000 | 1.3200 | 1.3500 | Bearish | Sideways | Bullish | ||
| Gonçalo Moreira, CMT | 1.3150 | 1.3000 | 1.3500 | Sideways | Bearish | Bullish | ||
| Hugo Venter | 1.2800 | 1.2000 | 1.1500 | Bearish | Bearish | Bearish | ||
| ICN.com analysis team | 1.3040 | 1.3040 | 1.3040 | Bearish | Bearish | Sideways | ||
| Ilian Yotov | 1.2500 | 1.2000 | 1.2000 | Bearish | Bearish | Bearish | ||
| ING Global Economics Team | - | 1.2400 | 1.2000 | - | Bearish | Bearish | ||
| Joshua Martinez | 1.3000 | 1.2900 | 1.3000 | Bearish | Bearish | Sideways | ||
| Mauricio Carrillo | 1.3200 | 1.3000 | 1.2750 | Sideways | Bearish | Bearish | ||
| NAB Global Markets Research | - | 1.2600 | 1.3300 | - | Bearish | Sideways | ||
| OCBC Treasury Research & Strategy Team | - | 1.2650 | 1.2433 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | 1.2000 | 1.1900 | - | Bearish | Bearish | ||
| RBS Team | - | 1.2900 | 1.3300 | - | Bearish | Sideways | ||
| Ross Yamashita | 1.3200 | 1.2700 | 1.3300 | Sideways | Bearish | Sideways | ||
| Scotiabank FX Strategy Team | - | 1.2100 | 1.2300 | - | Bearish | Bearish | ||
| TD Securities Research Team | - | 1.2700 | 1.1800 | - | Bearish | Bearish | ||
| UBS FX Research Team | - | 1.3000 | 1.2500 | - | Bearish | Bearish | ||
| Valeria Bednarik | 1.3250 | 1.2900 | 1.2660 | Bullish | Bearish | Bearish | ||
| Westpac Institutional Bank Team | - | 1.3100 | - | - | Sideways | - | ||
| Yohay Elam | 1.2900 | 1.2700 | 1.3200 | Bearish | Bearish | Sideways | ||
| Average | 1.3048 | 1.2743 | 1.2718 | Bearish | Bearish | Bearish | ||
According to our analysis there is a possibility that the Euro has completed a corrective structure and that we should see a trend change and downwards movement within a new impulse. Failure to see the pair continue lower would very likely only be a temporary up-trend continuation and the reversal should still occur within the next week.
Settling above 1.2680 is the key for the bullish scenario
Although QE3 could continue to weigh on the USD, the EUR is running out of "good" news and should resume its downtrend as soon as reality sets back in.
EURUSD daily timeframe is waiving bullish. It is expected to have a pull back.
Everything went in favor of EUR/USD. Will this continue? Some Greek hurdles could weigh on the pair.
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.
Even I, as euro bull have been surprised at the extent of the bullish sentiment towards the eurodollar and indeed had expected the 1.30 to be achieved next week. Given the current bullish tone, with the momentum now fueled by QE3, we can now expect to see the eurodollar push towards the next level of resistance on the weekly chart which sits in the 1.3282 price zone. Any breach here could even see the pair push on towards 1.35 in due course.