Economists at Danske Bank revise down their EUR/USD forecast in 12 months from 1.08 to 1.05. 

USD can keep going higher still

“We revise our EUR/USD forecast down to 1.05 (from 1.08) in 12M.”

“Global manufacturing is slowing, valuations shows risks are to the downside for spot and the near-term consequences of the war in Ukraine will likely be a further strengthening of the USD. We thus continue to expect EUR/USD can drop further in this environment.”