ING forecasts for EUR/USD

EUR/USD pair managed to rise lately, but forex strategists of ING noted that they still view with mistrust of pair's successes. Analysts remind that there are no fundamental reasons for the establishment of sustainable movement upwards.
The bank noted that growth was prompted by the revised expectations of investors about the pace of tightening the monetary policy of the Federal Reserve. The direction of future action is not questioned, while European Central Bank continues with stimulus measures and negative interest rates. Against this background, pressure on EUR/USD will probably preserve, although it will not be so strong given that the effectiveness of the instruments of the ECB weakened, while the increase in rates in the US will be very carefully.
By ING advise their clients to consider selling EUR/USD in case of an increase to $ 1.15 and purchases at $1.05/$1.08 area. Analysts adjusted their forecasts for the end of the year from $1.05 to $1.10. At the end of the first quarter of 2017 they provides a rate of $1.15 and $1.20 by December 2017.