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, Nov 02 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2750 | 1.2500 | 1.2300 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 1.2921 | 1.3465 | 1.3242 | Bullish | Bullish | Bullish | ||
| ANZ FX Strategy Team | - | - | 1.2900 | - | - | Sideways | ||
| BoA FX, Rates and Commodities Team | - | - | 1.2300 | - | - | Bearish | ||
| Capital Economics Research Team | - | - | 1.2000 | - | - | Bearish | ||
| Claudiu Cazacu | 1.2940 | 1.2890 | 1.3300 | Bullish | Sideways | Bullish | ||
| Danske Research Team | - | - | 1.3500 | - | - | Bullish | ||
| DBS Group Research | - | - | 1.2800 | - | - | Sideways | ||
| GFM Research Private Limited | 1.2830 | 1.3120 | 1.3250 | Sideways | Bullish | Bullish | ||
| Goldman Sachs Global Investment Research | - | - | 1.2500 | - | - | Bearish | ||
| Gonçalo Moreira, CMT | 1.2750 | 1.3200 | 1.3300 | Bearish | Bullish | Bullish | ||
| HSBC Global Research Team | - | - | 1.2340 | - | - | Bearish | ||
| Hugo Venter | 1.3050 | 1.2400 | 1.1800 | Bullish | Bearish | Bearish | ||
| ICN.com analysis team | 1.2900 | 1.3100 | 1.3400 | Bullish | Bullish | Bullish | ||
| Ilian Yotov | 1.3000 | 1.2750 | 1.2500 | Bullish | Bearish | Bearish | ||
| ING Global Economics Team | - | - | 1.2200 | - | - | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.3000 | - | - | Bullish | ||
| Keagan York | 1.2900 | 1.2800 | 1.2500 | Bullish | Sideways | Bearish | ||
| Luc Luyet, CMT, CIIA | 1.3100 | 1.3200 | 1.3400 | Bullish | Bullish | Bullish | ||
| Mauricio Carrillo | 1.3000 | 1.3150 | 1.2800 | Bullish | Bullish | Sideways | ||
| NAB Global Markets Research | - | - | 1.3300 | - | - | Bullish | ||
| National Bank of Canada Eco. & Strat. Team | - | - | 1.2700 | - | - | Bearish | ||
| OCBC Treasury Research & Strategy Team | - | - | 1.2810 | - | - | Sideways | ||
| Rabobank Financial Markets Research Team | - | 1.2800 | 1.3000 | - | Sideways | Bullish | ||
| RBC Economic Research Team | - | - | 1.3200 | - | - | Bullish | ||
| RBS Team | - | - | 1.2700 | - | - | Bearish | ||
| Ross Yamashita | 1.2750 | 1.2550 | 1.2400 | Bearish | Bearish | Bearish | ||
| Scotiabank FX Strategy Team | - | - | 1.2700 | - | - | Bearish | ||
| TD Securities Research Team | - | - | 1.2500 | - | - | Bearish | ||
| Telmo Pinto | 1.2648 | - | - | Bearish | - | - | ||
| UBS FX Research Team | - | 1.3000 | 1.2500 | - | Bullish | Bearish | ||
| UniCredit Research | - | - | 1.3000 | - | - | Bullish | ||
| Valeria Bednarik | 1.2750 | 1.2510 | 1.2200 | Bearish | Bearish | Bearish | ||
| Westpac Institutional Bank Team | - | 1.3200 | - | - | Bullish | - | ||
| Average | 1.2878 | 1.2915 | 1.2761 | Bullish | Bullish | Sideways | ||
Eurodollar looked set for a further run beyond the 1.30 price point before NFP intervened and is now looking to test the 1.28 double bottom. Should this hold then expect to see the pair bounce higher in much the same way as in mid September and early October for a run back towards the 1.31 region and beyond in due course.
The pair is still seen within a second wave corrective structure that may last very close to a week still. Short term upwards movement is expected after which the pair should continue the down trend.
"The short term bullish trend is still intact, only a sustained break below 1.2750 negates the suggested outlook."
The EUR/USD exchange rate has been stuck in a $1.28-$1.3171 range and it would probably stay confined within it ahead of the ECB announcement on Nov. 8.
Risk traders remain concerned about the slow developments in European and this should lead to bulls liquidating positions leading into year end.
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.
In most cases, after the U.S elections (no matter who won, Democrat or Republican), the USD appreciated. So this time statistics is on our side.