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, Dec 14 2012, 17:00 GMT | |||||||
| A. Narczewski | 1.2900 | 1.2600 | 1.2200 | Bearish | Bearish | Bearish | ||
| Anna Coulling | 1.3282 | 1.3483 | 1.2968 | Bullish | Bullish | Sideways | ||
| BBVA Bancomer Team | - | 1.2500 | - | - | Bearish | - | ||
| BoA FX, Rates and Commodities Team | - | 1.2500 | 1.2300 | - | Bearish | Bearish | ||
| Capital Economics Research Team | - | 1.2500 | 1.1500 | - | Bearish | Bearish | ||
| Claudiu Cazacu | 1.3210 | 1.3100 | 1.3350 | Bullish | Sideways | Bullish | ||
| Danske Research Team | - | - | 1.3000 | - | - | Sideways | ||
| DBS Group Research | - | 1.2800 | 1.2900 | - | Bearish | Bearish | ||
| Goldman Sachs Global Investment Research | - | 1.2500 | - | - | Bearish | - | ||
| Gregor Horvat | 1.3000 | 1.3300 | 1.3800 | Bearish | Bullish | Bullish | ||
| HSBC Global Research Team | - | 1.2680 | - | - | Bearish | - | ||
| Hugo Venter | 1.2800 | 1.3600 | 1.5000 | Bearish | Bullish | Bullish | ||
| ICN.com analysis team | 1.3000 | 1.3100 | 1.3100 | Bearish | Sideways | Sideways | ||
| Ilian Yotov | 1.3200 | 1.3000 | 1.3000 | Bullish | Bearish | Sideways | ||
| ING Global Economics Team | - | 1.2500 | 1.2000 | - | Bearish | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.2800 | - | - | Bearish | ||
| Luc Luyet, CMT, CIIA | 1.3000 | 1.2900 | 1.2800 | Bearish | Bearish | Bearish | ||
| Mauricio Carrillo | 1.3200 | 1.3400 | 1.3800 | Bullish | Bullish | 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 | 1.2930 | - | - | Bearish | - | - | ||
| Rabobank Financial Markets Research Team | - | 1.2800 | 1.3000 | - | Bearish | Sideways | ||
| RBC Economic Research Team | - | 1.3000 | 1.3200 | - | Bearish | Sideways | ||
| RBS Team | - | 1.2700 | 1.2300 | - | Bearish | Bearish | ||
| Richard C. Lee | 1.3200 | 1.2727 | 1.3000 | Bullish | Bearish | Sideways | ||
| Ross Yamashita | 1.3100 | 1.3400 | 1.3000 | Sideways | Bullish | Sideways | ||
| Scotiabank FX Strategy Team | - | 1.2900 | 1.2700 | - | Bearish | Bearish | ||
| TD Securities Research Team | - | 1.2500 | 1.1800 | - | Bearish | Bearish | ||
| UBS FX Research Team | - | 1.3000 | 1.2500 | - | Bearish | Bearish | ||
| UniCredit Research | - | 1.3000 | 1.3100 | - | Bearish | Sideways | ||
| Valeria Bednarik | 1.3280 | 1.3110 | 1.2800 | Bullish | Sideways | Bearish | ||
| Westpac Institutional Bank Team | - | 1.3200 | 1.3500 | - | Bullish | Bullish | ||
| Yohay Elam | 1.3000 | 1.2800 | 1.2800 | Bearish | Bearish | Bearish | ||
| Average | 1.3079 | 1.2920 | 1.2894 | Sideways | Bearish | Bearish | ||
EURUSD reversed impulsive from 1.2880 but is now at 1.3100 resistance from where we expect a corrective pull-back to 1.3000 psychological level before larger uptrend resumes.
Our analysis has been updated and we have two wave counts that expect different directions over the long term for the Euro. Both still need further confirmation. In the short term we expect an impulse to be complete over the next day or two and then some downwards movement within a deep corrective structure.
The EUR needs a catalyst to gain further into the $1.30's and might be able to find it if the U.S. fiscal cliff is averted and if the Fed pushes the QE pedal to the medal.
Europe managed to stabilize for now, with money flowing to Greece and less fear about Spain. Weak economies could weigh on the pair after the holidays.
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 continues to move higher, having broken firmly above the psychological 1.30 level and is now moving to test the 1.3176 high of mid September. Any close above here could see the pair continue much higher, ultimately to test the 1.35 region in 2013.