"Goldman's FX Team Validates Cynical Critics, Capitulates On EURUSD Recommendation ONCE AGAIN" (EUR/USD)

EUR/USD is currently at 129.10.
We chronicled some of our adventures in foreign exchange in this week's ""Euro Will Rise to Head-and-Shoulders Target: Technical Analysis" (EUR/USD)". I'll exerpt some of the Goldman bits* after the jump.
From ZeroHedge:

A month ago, Goldman threw in the towel, revising its prior 1.35 estimate for the EURUSD down to 1.15, which prompted us to conclude that it is "Time To Go Long." A month later, following yet another massive P&L loss for all those who are still naive enough to listen to the Thomas Stolper led team, and Goldman has officially flip flopped yet again: "Weaker US growth, reasonably solid Euro-zone macro data and less political/fiscal disruptions than feared have been a feature of the past few weeks, and have motivated another forecast change to reflect more broad USD weakness than before. We now project EUR/$ at 1.35 and 1.38 in 6 and 12 months to reflect the fundamental outlook." And one wonders why GS' treatment of its clients is the butt of all jokes....MORE

They have a table and everything.

*July 13:

EUR/USD is currently at 1.2709.
We got lucky in our timing on June 7 when we posted "Ready for a Positive Euro Surprise?":

I was thinking the same thing when I saw the euro at $1.1878 this morning....

As it turns out June 7 was the intermediate low at $1.1875. The nice thing about this casino is the payoff for lucky is pari passu with the payoff for skill....
...Followed by ""Goldman Formally Lowers EURUSD Target From $1.35 To $1.15; Time To Go Long"(GS)" on the 10th:

EUR/USD is currently 1.2118.
We stuck our necks out and posted "Ready for a Positive Euro Surprise?" at 1.1917 on Monday.
Here's our last post on Goldman and the Euro: "Goldman Sachs on EUR/USD: "no freaking clue where the EUR will go next" (GS)", Fittingly enough on April Fools Day....
...GS has a chart and everything. 

This morning I was asked where I thought the euro would trade and all I could come up with was "higher".
These guys get more specific....

One of these days we'll revisit the oil markets of 2008 to observe what GS did to their clients.