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, Oct 19 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.3150 | 1.2900 | 1.2500 | Bullish | Bearish | Bearish | ||
| Alberto Muñoz,PhD | 1.3150 | 1.3500 | 1.3700 | Bullish | Bullish | Bullish | ||
| Anna Coulling | 1.3167 | 1.3465 | 1.3242 | Bullish | Bullish | Bullish | ||
| BoA FX, Rates and Commodities Team | - | - | 1.2300 | - | - | Bearish | ||
| Claudiu Cazacu | 1.3020 | 1.2910 | 1.3300 | Sideways | Bearish | Bullish | ||
| Danske Research EmergingMarkets Team | - | - | 1.3500 | - | - | Bullish | ||
| DBS Group Research | - | - | 1.2800 | - | - | Bearish | ||
| Dr. S. Sivaraman | 1.3323 | 1.3855 | 1.4223 | Bullish | Bullish | Bullish | ||
| GFM Research Private Limited | 1.2820 | 1.3230 | 1.3340 | Bearish | Bullish | Bullish | ||
| Goldman Sachs Global Investment Research | - | - | 1.2500 | - | - | Bearish | ||
| HSBC Global Research Team | - | - | 1.2340 | - | - | Bearish | ||
| Hugo Venter | 1.2900 | 1.2400 | 1.1800 | Bearish | Bearish | Bearish | ||
| ICN.com analysis team | 1.3280 | 1.3485 | 1.3830 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 1.3000 | 1.2750 | 1.2500 | Sideways | Bearish | Bearish | ||
| ING Global Economics Team | - | - | 1.2200 | - | - | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.3000 | - | - | Sideways | ||
| La Caixa Economic Research Dept. | - | - | 1.2600 | - | - | Bearish | ||
| Luc Luyet, CMT, CIIA | 1.3100 | 1.3200 | 1.3400 | Bullish | Bullish | Bullish | ||
| Malik Khan | 1.2950 | 1.3511 | 1.2800 | Bearish | Bullish | Bearish | ||
| Mauricio Carrillo | 1.2920 | 1.3150 | 1.2820 | Bearish | Bullish | Bearish | ||
| National Bank of Canada Eco. & Strat. Team | - | - | 1.2300 | - | - | Bearish | ||
| Rabobank Financial Markets Research Team | - | 1.2600 | 1.2800 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | - | 1.3200 | - | - | Bullish | ||
| RBS Team | - | - | 1.2700 | - | - | Bearish | ||
| Ross Yamashita | 1.3200 | 1.3600 | 1.3000 | Bullish | Bullish | Sideways | ||
| Scotiabank FX Strategy Team | - | - | 1.2600 | - | - | Bearish | ||
| TD Securities Research Team | - | - | 1.2500 | - | - | Bearish | ||
| Telmo Pinto | 1.3180 | 1.3260 | 1.3520 | Bullish | Bullish | Bullish | ||
| UBS FX Research Team | - | 1.3000 | 1.2500 | - | Sideways | Bearish | ||
| UniCredit Research | - | - | 1.3000 | - | - | Sideways | ||
| Valeria Bednarik | 1.2880 | 1.2745 | 1.2440 | Bearish | Bearish | Bearish | ||
| Westpac Institutional Bank Team | - | 1.3300 | 1.2600 | - | Bullish | Bearish | ||
| Yohay Elam | 1.2800 | 1.2800 | 1.3200 | Bearish | Bearish | Bullish | ||
| Average | 1.3052 | 1.3140 | 1.2880 | Sideways | Bullish | Sideways | ||
The corrective structure we mentioned last week seems to have taken longer than expected, however it should complete within the next 2 days which should then see the Euro continue lower with a clear increase in downwards momentum.
Settling above 1.2725 is the key for the bullish scenario
Should the euro optimism rally fizzle in the aftermath of the EU Summit, the single currency would be likely to reverse its recent gains against the greenback.
Without any breakthroughs in the EU Summit, the euro will need a Spanish bailout request to rise, and this could wait another week.
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.
With a strong double bottom now in place, on the daily chart, we can expect to see the eurodollar break above this level in due course, to test the 1.3279 region, last seen in April 2012.