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 28 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.3050 | 1.3300 | 1.2700 | Bullish | Bullish | Sideways | ||
| Alberto Muñoz,PhD | 1.3170 | 1.3500 | 1.4100 | Bullish | Bullish | Bullish | ||
| Anna Coulling | 1.2765 | 1.3167 | 1.3227 | Bearish | Bullish | Bullish | ||
| ANZ FX Strategy Team | - | - | 1.2500 | - | - | Bearish | ||
| BoA FX, Rates and Commodities Team | - | - | 1.2300 | - | - | Bearish | ||
| Claudiu Cazacu | 1.2870 | 1.2790 | 1.3040 | Sideways | Sideways | Bullish | ||
| DBS Group Research | - | - | 1.2800 | - | - | Sideways | ||
| Esteban Mora | 1.3100 | 1.3200 | 1.3500 | Bullish | Bullish | Bullish | ||
| Gonçalo Moreira, CMT | 1.3015 | 1.3300 | 1.3500 | Bullish | Bullish | Bullish | ||
| Hugo Venter | 1.2600 | 1.2700 | 1.1800 | Bearish | Bearish | Bearish | ||
| ICN.com analysis team | 1.3145 | 1.3485 | 1.3830 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 1.2750 | 1.2500 | 1.2000 | Bearish | Bearish | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.3000 | - | - | Sideways | ||
| Joshua Martinez | 1.3171 | 1.3352 | 1.3585 | Bullish | Bullish | Bullish | ||
| Mauricio Carrillo | 1.3000 | 1.3100 | 1.2750 | Bullish | Bullish | Sideways | ||
| NAB Global Markets Research | - | - | 1.3300 | - | - | Bullish | ||
| Rabobank Financial Markets Research Team | - | 1.2600 | 1.2800 | - | Bearish | Sideways | ||
| RBC Economic Research Team | - | - | 1.2000 | - | - | Bearish | ||
| RBS Team | - | - | 1.2000 | - | - | Bearish | ||
| Ross Yamashita | 1.2800 | 1.2400 | 1.2100 | Bearish | Bearish | Bearish | ||
| Scotiabank FX Strategy Team | - | - | 1.2600 | - | - | Bearish | ||
| TD Securities Research Team | - | - | 1.2500 | - | - | Bearish | ||
| Telmo Pinto | 1.2700 | 1.3260 | 1.3520 | Bearish | Bullish | Bullish | ||
| UBS FX Research Team | - | 1.3000 | 1.2500 | - | Bullish | Bearish | ||
| Valeria Bednarik | 1.2750 | 1.2510 | 1.2200 | Bearish | Bearish | Bearish | ||
| Yohay Elam | 1.3000 | 1.2800 | 1.3200 | Bullish | Sideways | Bullish | ||
| Average | 1.2926 | 1.2998 | 1.2821 | Bullish | Bullish | Sideways | ||
The Euro is expected to be within a new impulse lower and is possibly entering a number of lower degree third waves that should see it increase in momentum to the downside.
Settling above 1.2725 is the key for the bullish scenario
As euro-area growth remains nowhere to be seen and with Spain not in a hurry to ask for a bailout, the EUR is running out of "good" news and should resume its downtrend.
The EUR/USD daily timeframe is hitting a .50 pullback. I am expecting this to create a bullish reaction.
Hopes that Spain's budget will be sufficient could keep the euro bid.
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 still in pullback phase with further weakness expected and looking to move lower next week. However, in the medium term we can expect to see a return to bullish momentum and a re-test of the 1.3171 in due course