EUR/USD: S/T Tactical Downside Before Higher Again; Where To

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EUR/USD is flirting with the 1.20 level once again, but with lots of caution. Where next?

Here is their view, courtesy of eFXnews:

ABN AMRO FX Strategy Research argues that in the near-term net-long position liquidation will probably push EUR/USD towards 1.15, but later in the year expects EUR/USD to move back above 1.20.

“We expect the – albeit slow – ECB exit to support the euro, just as the initial Fed exit did. We expect sentiment towards the US dollar to remain negative and the Fed not to hike more aggressively than financial market now price in. However, the upside in EUR/USD will likely be dampened somewhat as the Fed reduces its balance sheet,” ABN AMRO argues.

ABN AMRO now targets EUR/USD around 1.15 by end of month, 1.20 by end of year, and 1.30 by end of next year.

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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 the 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.

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