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9 Apr 2015
Uncertainty on Fed hike remains, go long EUR/USD – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team maintains their medium-term bullish outlook on EUR/USD, anticipating a move towards 1.1030.
Key Quotes
“The EUR/USD came under pressure after hawkish comments from Fed’s officials. Although the reaction after the FOMC minutes was limited, Greece uncertainty provided the excuse to sell the EUR/USD. Our long EUR/USD position reached the stop-loss level.”
“However, we maintain our medium-term bullish outlook on this pair. The strong USD dollar is a headwind on the U.S. economy. USD-buying positions are still very popular.”
“However, the biggest fund are cutting exposure to the USD amid concern the Fed will delay a widely-anticipated interest rate hike.”
“Currently fund managers are about evenly split on whether the USD will strengthen further. That is a change from several months ago when a majority expected the USD to keep appreciating.”
“We do not change our medium-term outlook on the EUR/USD. Our trading strategy is to get long again at 1.0720, just above daily low on March 31. If the order is filled, the target will be 1.1030.”
Key Quotes
“The EUR/USD came under pressure after hawkish comments from Fed’s officials. Although the reaction after the FOMC minutes was limited, Greece uncertainty provided the excuse to sell the EUR/USD. Our long EUR/USD position reached the stop-loss level.”
“However, we maintain our medium-term bullish outlook on this pair. The strong USD dollar is a headwind on the U.S. economy. USD-buying positions are still very popular.”
“However, the biggest fund are cutting exposure to the USD amid concern the Fed will delay a widely-anticipated interest rate hike.”
“Currently fund managers are about evenly split on whether the USD will strengthen further. That is a change from several months ago when a majority expected the USD to keep appreciating.”
“We do not change our medium-term outlook on the EUR/USD. Our trading strategy is to get long again at 1.0720, just above daily low on March 31. If the order is filled, the target will be 1.1030.”