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Currency Analyst since 2010

BoA: forecasts for FX majors

Bank of America Merrill Lynch has the following views on the main currency pairs:

EUR/USD: A closing break of $1.3166 needed to confirm a top and resumption of the medium term downtrend for $1.2755 (July low) before the $1.2457 swing target.

GBP/USD: The pair has already resumed its medium term bear trend for $1.4783/1.4767 and below following yesterday’s close below $1.5264. Sell on bounces.

USD/JPY: The pair will continue declining to 93.65/73, potentially 90.91.

GBP/JPY: If the pair closes below 147.56 the pair will complete a 3.5-month head and shoulders targeting 137.69.

EUR
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