Back
18 Mar 2015
Short EUR/USD, target 1.0400 – GrowthAces
FXStreet (Barcelona) - The GrowthAces Research Team shares the technical outlook and key levels for EUR/USD, maintaining a bearish outlook on the single currency, targeting 1.0400 levels.
Key Quotes
“The EUR/USD traded in a tight range today. The bearish momentum is intact and we have got short at 1.0630.”
“However, we should know that a strong appreciation of the USD against the rest of the world in the medium term poses a risk to the U.S. economy and may result in capital outflow from U.S. equity market.”
“We should know that dropping “patient” today will not automatically mean a rate hike in June. There will be still a risk of the Fed delaying hikes in case of tighten monetary conditions caused by the USD strength. This risk may weigh on continuation of current strongly bearish EUR/USD trend.”
“Significant technical analysis' levels:
Resistance: 1.0651 (high Mar 17), 1.0684 (high Mar 12), 1.0687 (10-dma)
Support: 1.0551 (session low Mar 17), 1.0457 (low Mar 16), 1.0400 (psychological level).”
“EUR/USD: short at 1.0630, target 1.0400, stop-loss 1.0730, risk factor **”
Key Quotes
“The EUR/USD traded in a tight range today. The bearish momentum is intact and we have got short at 1.0630.”
“However, we should know that a strong appreciation of the USD against the rest of the world in the medium term poses a risk to the U.S. economy and may result in capital outflow from U.S. equity market.”
“We should know that dropping “patient” today will not automatically mean a rate hike in June. There will be still a risk of the Fed delaying hikes in case of tighten monetary conditions caused by the USD strength. This risk may weigh on continuation of current strongly bearish EUR/USD trend.”
“Significant technical analysis' levels:
Resistance: 1.0651 (high Mar 17), 1.0684 (high Mar 12), 1.0687 (10-dma)
Support: 1.0551 (session low Mar 17), 1.0457 (low Mar 16), 1.0400 (psychological level).”
“EUR/USD: short at 1.0630, target 1.0400, stop-loss 1.0730, risk factor **”