Senior Analyst at Danske Bank Jens Pedersen assessed the prospects for the pair in the near and medium terms. Key Quotes “EUR/USD continues to test new lows and we do in fact think that the Italian turmoil, a hesitant ECB, US yields and carry mean that risks to EUR/USD and notably our forecast profile now lie clearly on the downside”. “Near term, we expect new 2018 lows as notably the US’ favourable cyclical position continues to manifest itself; the next key support levels to watch are 1.1579 (8-Nov low) and 1.1479 (20-Jul low). We emphasise that our 12M forecast (1.28) is challenged as we now envisage an extended period during which EUR/USD would be stuck below 1.20 as support from the ECB ‘normalisation’ has been postponed”. “In our view, clients with USD income/assets should consider risk reversals for hedging purposes out to the 6M horizon as the risk of a significant EUR rebound here has been postponed. Beyond the 6M horizon , we think forwards remain attractive, and clients with USD income/assets should exploit the spot dips, which we think will occur near term, to lock in exposure at longer horizons”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF correction lower ended? – Commerzbank FX Street 5 years Senior Analyst at Danske Bank Jens Pedersen assessed the prospects for the pair in the near and medium terms. Key Quotes "EUR/USD continues to test new lows and we do in fact think that the Italian turmoil, a hesitant ECB, US yields and carry mean that risks to EUR/USD and notably our forecast profile now lie clearly on the downside". "Near term, we expect new 2018 lows as notably the US' favourable cyclical position continues to manifest itself; the next key support levels to watch are 1.1579 (8-Nov low) and 1.1479 (20-Jul low). We emphasise that our 12M forecast (1.28)… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
