Euro: Further gains eyed toward 1.1800 against US Dollar – UOB
The Euro is poised for further appreciation against the US Dollar, with UOB targeting 1.1800 as a key level. Current sentiment reflects a bullish bias on the Euro, underpinned by recent technical readings which suggest momentum favors upward movement. Traders are encouraged to keep an eye on resistance levels and macroeconomic factors that could influence pricing dynamics, particularly as the market navigates the complexities of monetary policy in both regions.
Where it sits in our coverage
Our consensus EUR/USD target sits at 1.1700 (median across multiple firms), with targets ranging from a bearish 1.1200 to a bullish 1.2000, reflecting a diverse outlook. The recent sentiment tilts toward euro strength, echoed by UOB’s forecast, which aligns with our expectations for a EUR/USD rally reaching 1.1800 in June 2026.
How firms align
Notably, firms such as Deutsche Bank and Nomura project targets of 1.1800 for June 2026, aligning closely with UOB's bullish stance. Conversely, Investec shows more conservative measurements at 1.1537 for June 2026, indicating some divergence that may be influenced by differing macroeconomic projections. For detailed expectations, see our reports on these firms, such as /reports/deutschebank and /reports/nomura.
What the data shows
Recent revisions also reflect a positive shift, with Deutsche Bank and UOB raising their short-term projections, potentially cementing a path towards the 1.1800 level. Further market dynamics can be explored in our coverage such as /research/eurusd-ecb-rate-path-2026-08-24.
How firms align with this view
Aligned with the headline view
Contrary positioning
Key takeaways
- 01UOB projects EUR/USD to reach 1.1800, signaling potential upside.
- 02Watch for macro catalysts that could drive momentum in EUR/USD positioning.
- 03A break above current resistance could open further bullish potential.
- 04Sentiment remains bullish in the current USD weakening cycle.
Market implications
Traders should monitor key levels, particularly the approach towards the 1.1700 mark as a psychological barrier. Upcoming economic releases, especially those related to the ECB, will be pivotal in determining the Euro's strength moving forward.
Risks to this view
A reversal in this bullish sentiment could stem from unexpectedly hawkish signals from the Federal Reserve or a significant change in European economic forecasts, likely pushing the EUR/USD back toward the lower targets around 1.1200.
Sentiment by currency
USD EUR+JPY~GBP~Composite USD score: -0.35
Sources & References
How we cover this story
Other coverage on this pair
EUR/USD Price Forecast: Corrects further as US Dollar extends recovery
USD strength momentum extends EUR/USD correction, likely testing technical support levels watched by systematic traders and hedge funds.
Morning briefing: EUR/USD is expected to regain momentum above 1.1700
Technical break above 1.1700 may attract momentum flows; watch for ECB/Fed divergence confirmation to validate further EUR/USD upside.
Euro gains support amid hawkish ECB expectations, subdued US Dollar
ECB hawkish repricing supports EUR near-term, but entry point clarity needed as positioning likely extended.