EUR/USD: Goldman Sachs aims for 1.05 from now until 2 December

"It was only at the beginning of 2015 that the markets began to aggressively integrate QE from the ECB into pricing. The EUR/USD then fell from 1.21 until 1.16 in three weeks, pending the 22 January ECB meeting. The market had therefore already taken QE into account in prices (EUR/USD dropped only 2 figures on 22 January, from 1.16 until 1.14).

Due to the same end-of-year dynamic, we believe that the EUR/USD will only decline modestly by 3 December. Our goal by 2 December remains 1.05.

We believe that the EUR/USD will fall by 2-3 Figures by 3 December and 2 more figures by 16 December when the Fed will raise its rates, which take us to parity by the end of the year.

We also think that it is perfectly possible that the EUR/USD cross will fall as far as 0.95 in 2016, by the end of March", says Goldman Sachs.