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EUR/USD: Broad M-Term Recovery Has More Legs; Where To Target? – CIBC

EUR/USD had already surpassed the 1.1700 level but retreated a bit. What’s next?

Here is their view, courtesy of eFXdata:

CIBC Research discusses EUR/USD outlook and adopts  a bullish bias over the medium-to-long term.

Looking beyond interest-sensitive capital flows, remember that the euro is also buttressed by an attractive Eurozone current account surplus that is expected to remain well above 3% of GDP.

A combination of ongoing capital flows, reduced political risk dynamics, still above-trend growth and the potential for earlier than expected central bank action in 2019 point towards  medium run EUR gains.

Our end of 2019 target of 1.28  may seem like a reach, but it’s actually only a bit above the average level seen since the global financial crisis,” CIBC argues.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.