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- EUR/USD: Ambitious target at 1.45 in the coming years – Rabobank
EUR/USD: Ambitious target at 1.45 in the coming years – Rabobank
FXStreet reports that according to economists at Rabobank, the 1.45 mark would be an ambitious target for investors.
“The 38.2% Fibonacci retracement of the 2008-2017 trend lower is the next objective for the EUR bulls, around 1.25.”
“Given that the previous two major moves higher this year were followed by pullbacks, another correction is most likely to unfold in the coming weeks.”
“We are not particularly bullish on the euro, but those market participants who expect the single currency to perform particularly well in the coming years may have an ambitious target at around 1.45 obtained by measuring the distance between the 2017/16 low and the key trendline. Note that using the same simple technic in reverse provided an accurate bearish target in 2015.”
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