24 Mar 2015
Long EUR/USD, target 1.1180 – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team maintains a bullish outlook on EUR/USD, expecting the pair to make a move towards 1.1180 levels.
Key Quotes
“The EUR/USD is rising on broad USD weakness stemming from lower US yields, optimism in Draghi’s comments on inflation and lack of bad news from Merkel-Tsipras summit. The USD recovered slightly after Fed Williams’ comments but they did not change current bullish bias on the EUR/USD.”
“U.S. CPI data will be released today (12:30 GMT). Our forecast is in line with the market consensus and amounts to 0.2% mom, -0.1% yoy for CPI and 0.1% mom, 1.6% yoy for core CPI.”
“We have taken profit on our EUR/USD long position (1.0670-1.1000). In our opinion there is potential for further rise in the EUR/USD after a corrective move."
“We have placed our buy offer at 1.0920, just above 21-dma of 1.0909 and support level of 1.0905 (hourly low on March 24). Our next target will be 1.1180, below high on March 4.”
”Resistance: 1.1000 (session high Mar 24), 1.062 (high Mar 18), 1.1115 (high Mar 5)”
“Support: 1.0909 (21-dma), 1.0905 (hourly low Mar 24), 1.0768 (hourly low Mar 23)”
Key Quotes
“The EUR/USD is rising on broad USD weakness stemming from lower US yields, optimism in Draghi’s comments on inflation and lack of bad news from Merkel-Tsipras summit. The USD recovered slightly after Fed Williams’ comments but they did not change current bullish bias on the EUR/USD.”
“U.S. CPI data will be released today (12:30 GMT). Our forecast is in line with the market consensus and amounts to 0.2% mom, -0.1% yoy for CPI and 0.1% mom, 1.6% yoy for core CPI.”
“We have taken profit on our EUR/USD long position (1.0670-1.1000). In our opinion there is potential for further rise in the EUR/USD after a corrective move."
“We have placed our buy offer at 1.0920, just above 21-dma of 1.0909 and support level of 1.0905 (hourly low on March 24). Our next target will be 1.1180, below high on March 4.”
”Resistance: 1.1000 (session high Mar 24), 1.062 (high Mar 18), 1.1115 (high Mar 5)”
“Support: 1.0909 (21-dma), 1.0905 (hourly low Mar 24), 1.0768 (hourly low Mar 23)”