Euro: 1.150 target in focus against US Dollar – ING
Recent analysis from ING suggests a bullish sentiment for the Euro, targeting a move towards 1.150 against the US Dollar. Given the current spot rate at 1.1446, the proximity to this target indicates a potential upward momentum that traders may want to capitalize on. This aligns with broader expectations in the market, though the range of outlooks varies significantly across firms, reflecting a blend of cautious to optimistic views on the Euro's near-term path.
Where it sits in our coverage
Our consensus EUR/USD target sits at 1.1700 (median across firms), reflecting a diverse outlook with the lower bound at 1.1100 from Danske Bank and the upper bound at 1.2300 from Morgan Stanley. ING’s focus on a 1.150 target closely aligns with other analysts like Scotiabank and RBC, who also project levels similar to this forecast, indicating growing confidence in the Euro's appreciation.
How firms align
Specific firms have varied stances on EUR/USD targets, with RBC forecasting 1.1600 for March 2026, aligning closely with ING's bullish view. In contrast, firms like TMGM forecast a more static scenario around 1.1447, suggesting a belief in limited near-term movement. See detailed positions in our internal reports for RBC and TMGM.
What the data shows
Recent forecast revisions, including from Scotiabank and Mizuho, have pushed projections upwards, with Scotiabank now at 1.1734 by March 2026. This is notable as our earlier analysis showed a midsummer target range that was aspirational for the Euro. Relevant insights can be found at /research/eurusd-ecb-rate-path.
How firms align with this view
Aligned with the headline view
Contrary positioning
Key takeaways
- 01EUR/USD targets show upward momentum, with current consensus at 1.1700.
- 02Market participants should monitor the 1.150 level as a psychological barrier.
- 03Watch for potential catalysts like upcoming ECB meetings influencing Euro strength.
Market implications
In the near term, traders should focus on the 1.150 level, which may act as a significant resistance point for the Euro. The consensus EUR/USD target of 1.1700 indicates further upside potential following positive economic signals from the Eurozone. Upcoming announcements from the ECB could reassess this outlook further.
Risks to this view
A reversal of this bullish view could occur if employment data from the Eurozone shows unexpected weakness, or if the ECB opts for a more dovish stance during its next meeting. Additionally, geopolitical tensions or economic downturns in critical Eurozone member states could challenge the Euro's strength.
Sentiment by currency
USD+EUR JPY~GBP~Composite USD score: +0.60
Sources & References
How we cover this story
Other coverage on this pair
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Cross-firm research
EUR/USD Consensus Check: Spot at 1.1486, Median Target 1.1684 — Week of September 19, 2026
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EUR/USD Consensus vs Spot Gap: Week of September 18, 2026
EUR/USD spot at 1.1475 sits 1.79% below the 30-firm Dec-26 consensus of 1.1684, with a 0.14 spread separating the most and least bullish desks.
EUR/USD Consensus Check: Spot at 1.1476, Median Target 1.1684 — Week of September 17, 2026
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