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Goldman Sachs: EUR/USD headed to 1.15

Goldman Sachs expects the ECB to stay on hold in December and doesn't expect further specific measures to be announced today. They forecast Draghi to reinforce the dovish stance adopted in his speech on November 21. He has clearly signaled a sovereign QE from the ECB, with a magnitude of at least 500 billion euros (and likely closer to 1 trillion), analysts project. 

"Sovereign QE is far from priced in and the euro downside remains our strongest conviction”. According to their forecast, EUR/USD will likely fall by at least 10 big figures from the current levels. The pair will likely hit 1.15 in the next 12 months. 

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