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 30 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2900 | 1.2700 | 1.2200 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 1.3124 | 1.3202 | 1.2968 | Bullish | Bullish | Sideways | ||
| BBVA Bancomer Team | - | 1.2800 | - | - | Bearish | - | ||
| BoA FX, Rates and Commodities Team | - | 1.2300 | 1.2200 | - | Bearish | Bearish | ||
| Capital Economics Research Team | - | 1.2000 | 1.1500 | - | Bearish | Bearish | ||
| Claudiu Cazacu | 1.2870 | 1.3100 | 1.3150 | Bearish | Bullish | Bullish | ||
| Danske Research Team | - | - | 1.3000 | - | - | Sideways | ||
| DBS Group Research | - | 1.2800 | 1.2900 | - | Bearish | Sideways | ||
| GFM Research Private Limited | 1.3115 | 1.3340 | 1.3470 | Bullish | Bullish | Bullish | ||
| Goldman Sachs Global Investment Research | - | 1.2500 | - | - | Bearish | - | ||
| Gus Farrow | 1.3085 | 1.3150 | 1.2550 | Bullish | Bullish | Bearish | ||
| HSBC Global Research Team | - | - | 1.2680 | - | - | Bearish | ||
| Hugo Venter | 1.2700 | 1.2100 | 1.1800 | Bearish | Bearish | Bearish | ||
| ICN.com analysis team | 1.3000 | 1.3100 | 1.3100 | Sideways | Bullish | Sideways | ||
| Ilian Yotov | 1.3100 | 1.2750 | 1.2500 | Bullish | Bearish | Bearish | ||
| ING Global Economics Team | - | 1.2200 | 1.1800 | - | Bearish | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.2800 | - | - | Bearish | ||
| Luc Luyet, CMT, CIIA | 1.2800 | 1.2600 | 1.2800 | Bearish | Bearish | Bearish | ||
| Mauricio Carrillo | 1.3100 | 1.2900 | 1.3150 | Bullish | Bearish | Bullish | ||
| NAB Global Markets Research | - | 1.3300 | 1.3400 | - | Bullish | Bullish | ||
| National Bank of Canada Eco. & Strat. Team | - | 1.2700 | 1.2300 | - | Bearish | Bearish | ||
| Nomura FX Research & Strategy | 1.3150 | - | - | Bullish | - | - | ||
| Rabobank Financial Markets Research Team | - | 1.2800 | 1.3000 | - | Bearish | Sideways | ||
| RBC Economic Research Team | - | 1.3200 | 1.2800 | - | Bullish | Bearish | ||
| RBS Team | - | 1.2700 | 1.2300 | - | Bearish | Bearish | ||
| Richard C. Lee | 1.2847 | 1.3000 | 1.3200 | Bearish | Sideways | Bullish | ||
| Scotiabank FX Strategy Team | - | 1.2700 | 1.2700 | - | Bearish | Bearish | ||
| TD Securities Research Team | - | 1.2500 | 1.1800 | - | Bearish | Bearish | ||
| Telmo Pinto | 1.3120 | - | - | Bullish | - | - | ||
| UBS FX Research Team | - | 1.3000 | 1.2500 | - | Sideways | Bearish | ||
| UniCredit Research | - | 1.3000 | 1.3200 | - | Sideways | Bullish | ||
| Valeria Bednarik | 1.2840 | 1.2745 | 1.2660 | Bearish | Bearish | Bearish | ||
| Westpac Institutional Bank Team | - | 1.2600 | - | - | Bearish | - | ||
| Yohay Elam | 1.2800 | 1.2500 | 1.2500 | Bearish | Bearish | Bearish | ||
| Average | 1.2970 | 1.2769 | 1.2653 | Sideways | Bearish | Bearish | ||
Our analysis expects that a second wave correction is very near to complete before the pair should be seen moving lower with an increase in downwards momentum within a third wave.
The pair may get some support as fical cliff deal negotiations unfold
The EUR needs a catalyst to break into the $1.30's and might be able to find it if the ECB does not ease policy and the U.S. fiscal cliff is averted.
EURO expected to continue upside move and test the October Highs, although a break of 1,2920/1,2900 level might precipitate the Sell towards 1,2850 and then 1,2820/1,2800 level.
With the buyback in the Greek deal already starting to unravel, the euro could come under new pressure.
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 the medium term the resistance level is clearly defined in the 1.3176 area, last seen in early September and should the pair fail here then we will have a significant triple top on the daily chart.