EUR/USD: Bending Not Breaking The Range; Where To Target? – NAB

EUR/USD slipped below 1.15 but then managed to recover and stabilize. What’s next?

Here is their view, courtesy of eFXdata:

NAB discusses EUR/USD outlook and sticks to its EUR forecasts of 1.18 for Dec with EUR still likely to be largely range-bound till the end of the year.

“A tentative relative pick-up in EZ inflation should see the EUR lift in 2019. Nevertheless, a more significant turn will likely require signs that the Fed hiking cycle is reaching a pause/peak or a thawing of the US-China trade war.

Both of these look unlikely in the near-term and with the possibility of USD strength persisting for a while longer yet – accordingly we have shaved our Q1 2019 forecast by 2 cents to 1.20; all other forecasts are unchanged,” NAB argues.

For lots more FX trades from major banks, sign up to eFXplus

By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.

Get the 5 most predictable currency pairs

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.