25 May 2015
US data ahead might disappoint, go long EUR/USD – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team expects the US data releases this week to disappoint expectations, and hence suggest going long on EUR/USD, targeting 1.13 levels.
Key Quotes
“The daily low on May 20 (1.1062) is the nearest resistance level now and the nearest support is 1.0960 (low on April 29).”
“In our opinion the EUR/USD will have the opportunity to regain some losses it suffered last week. We have US durable goods orders, new home sales, consumer confidence and revised GDP figure releases this week. The US data will probably not show a significant rebound in economic activity.”
“We got long at 1.0980 and set the target at 1.1300. The stop-loss level is 1.0895.”
Key Quotes
“The daily low on May 20 (1.1062) is the nearest resistance level now and the nearest support is 1.0960 (low on April 29).”
“In our opinion the EUR/USD will have the opportunity to regain some losses it suffered last week. We have US durable goods orders, new home sales, consumer confidence and revised GDP figure releases this week. The US data will probably not show a significant rebound in economic activity.”
“We got long at 1.0980 and set the target at 1.1300. The stop-loss level is 1.0895.”