According to my calculation price of EUR-USD should reach 1.2530 by end of this month .Any one agrees? What is your target?
Every analyst I have seen on European CNBC puts the range at between 1.1 - 1.16 .. with a timeframe of 2 mths. Seems sentiment in Europe is very negative. I am not sure, but the volatility has been great for selling into strength. The end of the month rate seems hard to call, but 1.25 looks way out of the question to me .. I would think 1.16 more likely.
If everyone on CNBC says the euro is going to fall then I think we may have seen the bottom, at least for the time being.
According to a Bloomberg columnist: "Predictions of the euro reaching $1.40 anytime soon can be tucked into the filing cabinet under the desk. Instead, the currency shared by 12 European Union nations is heading back toward parity with the dollar." http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_lynn&sid=aoi0oTBC270o From one extreme to another! Plus, if the topping process of the euro is to mirror the bottoming process of 2001 we're in for a wide swinging trading range. Beware the reversals...