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EUR/USD: To Stay Below 1.20 For Longer; Next Key Support At 1.1479 – Danske

The euro continues suffering from the Italian constitutional crisis but holds above 1.1500 for now.

Here is their view, courtesy of eFXdata:

Danske Research discusses EUR/USD outlook and  expects a new 2018 lows as the pair is heading towards the next key support around    1.1479 (20 Jul’17 low).

Risks to our forecast profile are now clearly on the downside, and especially we emphasise that our 12M forecast (1.28) is challenged.

We now envisage an extended period during which EUR/USD will be stuck below 1.20 as support from ECB ‘normalisation’ has been postponed,” Danske 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.