EUR/USD: Deutsche Bank advises selling with a target at 0.95, and says that USD rebound should last at least a year

In a note published today, Deutsche Bank once again confirms its strongly bearish opinion on the EUR/USD pair, advising traders to sell with a target at 0.95:

"We expect the dollar to continue to strengthen in 2017, with corporate tax reform, potential hawkish appointments to the Fed and tax incentives.

Moreover, the historical study of dollar price cycles suggests that the current rise should continue for at least another year.

With regard to valuation models, our estimate suggests a EUR/USD value that is already under 1.00, with significant room to decline.

We therefore recommend selling the EUR/USD with a target at 0.95. We are bearish over the full year and we believe it is more likely that our objective will be exceeded than not achieved."