According to Goldman: '' The Euro is therefore far from cheap after recent declines and this is one of the reasons we continue to hold a bearish view. We expect EUR/$ to go to 1.20 in 12 months and parity by end-2017.''
peeterwoolf posted: According to Goldman: '' The Euro is therefore far from cheap after recent declines and this is one of the reasons we continue to hold a bearish view. We expect EUR/$ to go to 1.20 in 12 months and parity by end-2017.''
It's too soon to tell, as we can see the potential of USD strength recently. But on the other hand China will start quoting EUR/CYN, this will reduce volumes in USD and increase them in EUR. This new quoting might just be what the Euro needed to recover from the recent steep loses it suffered versus USD.
victoriajensen posted: EUR/USD hit strong support at 1.2600 and we might see some pullback before it heads for 1.2500, especially considering that a double bottom seems to have formed in the one hour filter chart.
A pullback to 1.2680 - 1.2700 area seems quite possible by the end of this week.
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