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, Jan 25 2013, 17:00 GMT | |||||||
| A. Narczewski | 1.3300 | 1.3100 | 1.2600 | Bearish | Bearish | Bearish | ||
| Alberto Muñoz,PhD | 1.3400 | 1.3100 | 1.3500 | Bearish | Bearish | Sideways | ||
| Anna Coulling | 1.3614 | 1.3483 | 1.3248 | Bullish | Sideways | Bearish | ||
| ANZ FX Strategy Team | - | - | 1.3400 | - | - | Sideways | ||
| BoA FX, Rates and Commodities Team | - | - | 1.2700 | - | - | Bearish | ||
| BTMU Global Markets Research | - | 1.3500 | 1.3300 | - | Sideways | Bearish | ||
| Capital Economics Research Team | - | - | 1.3500 | - | - | Sideways | ||
| Claudiu Cazacu | 1.3620 | 1.3610 | 1.3300 | Bullish | Bullish | Bearish | ||
| Danske Research Team | - | 1.3300 | 1.3500 | - | Bearish | Sideways | ||
| DBS Group Research | - | - | 1.3200 | - | - | Bearish | ||
| Dr. S. Sivaraman | 1.3667 | 1.4243 | 1.4632 | Bullish | Bullish | Bullish | ||
| Goldman Sachs Global Investment Research | - | - | 1.4000 | - | - | Bullish | ||
| Gonçalo Moreira, CMT | 1.3525 | 1.3485 | 1.3500 | Bullish | Sideways | Sideways | ||
| Gus Farrow | 1.3600 | 1.4000 | - | Bullish | Bullish | - | ||
| HSBC Global Research Team | - | - | 1.2760 | - | - | Bearish | ||
| Hugo Venter | 1.3250 | 1.3450 | 1.4500 | Bearish | Sideways | Bullish | ||
| ICN.com analysis team | 1.3485 | 1.3700 | 1.3880 | Sideways | Bullish | Bullish | ||
| Ilian Yotov | 1.3500 | 1.3000 | 1.3000 | Bullish | Bearish | Bearish | ||
| ING Global Economics Team | - | - | 1.3200 | - | - | Bearish | ||
| J.P. Morgan Global FX Strategy | - | - | 1.3200 | - | - | Bearish | ||
| Luc Luyet, CMT, CIIA | 1.3450 | 1.3450 | 1.3900 | Sideways | Sideways | Bullish | ||
| Mauricio Carrillo | 1.3530 | 1.3400 | 1.3800 | Bullish | Sideways | Bullish | ||
| NAB Global Markets Research | - | - | 1.3200 | - | - | Bearish | ||
| National Bank of Canada Eco. & Strat. Team | - | - | 1.2300 | - | - | Bearish | ||
| Nomura FX Research & Strategy | 1.3480 | - | - | Sideways | - | - | ||
| Rabobank Financial Markets Research Team | - | 1.3100 | 1.2800 | - | Bearish | Bearish | ||
| RBC Economic Research Team | - | - | 1.3200 | - | - | Bearish | ||
| RBS Team | - | - | 1.3300 | - | - | Bearish | ||
| Richard C. Lee | 1.3148 | 1.3000 | 1.2700 | Bearish | Bearish | Bearish | ||
| Scotiabank FX Strategy Team | - | - | 1.3000 | - | - | Bearish | ||
| TD Securities Research Team | - | - | 1.3000 | - | - | Bearish | ||
| UBS FX Research Team | - | 1.3300 | 1.3000 | - | Bearish | Bearish | ||
| UniCredit Research | - | - | 1.3200 | - | - | Bearish | ||
| Valeria Bednarik | 1.3540 | 1.3600 | 1.3200 | Bullish | Bullish | Bearish | ||
| Westpac Institutional Bank Team | - | 1.3500 | - | - | Sideways | - | ||
| Average | 1.3474 | 1.3438 | 1.3298 | Sideways | Sideways | Sideways | ||
prolonged middle level consolidation could lead to aggressive rise in coming days.
The pair has not completed the first impulse within a larger third wave as the corrective structure took longer than expected. We therefore expect to see the pair move higher over the next few days, but should be lower in a week's time.
With the Fed's aggressive QE not going away anytime soon, while the European Central Bank gets more optimistic about the outlook for 2013 and is not in a hurry to cut rates, the EUR could make further advancement into the mid-$1.30's.
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.
Friday's breakout from the recent sideways congestion between 1.33 and 1.34 was significant last Friday, and now represents the next leg up for the eurodollar in a continuation of the current bullish trend. With a solid platform of support now in place expect to see the pair push higher still in the short term to re-test 1.36 and beyond and clear the highs of 2012 as a result.