30 Jan 2015
EUR/USD long For 1.1550, eyes on US GDP data – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team, reviews today’s eurozone CPI release, and further provides the trade setup for EUR/USD.
Keu Quotes
“Flash estimate of CPI amounted in January to -0.6% yoy vs. -0.2% yoy in December. The figure was below expectations for a decline to minus 0.5% yoy, but in line with our forecast.”
“The seasonally adjusted unemployment rate in Euro zone fell to 11.4% in December from 11.5% in November.”
“Despite very good U.S. labor market data yesterday and lower-than-expected Euro zone CPI reading, the EUR/USD is gradually getting higher. In our opinion this is a strong evidence of profit taking on EUR-selling positions taken ahead of the ECB’s QE decision last week.”
“The main event today is the release of U.S. GDP growth for the fourth quarter. Our forecast (3.0%) is slightly below the market consensus (3.1%)”
“EUR/USD trading strategy: long at 1.1300, target 1.1550, stop-loss 1.1240”
Keu Quotes
“Flash estimate of CPI amounted in January to -0.6% yoy vs. -0.2% yoy in December. The figure was below expectations for a decline to minus 0.5% yoy, but in line with our forecast.”
“The seasonally adjusted unemployment rate in Euro zone fell to 11.4% in December from 11.5% in November.”
“Despite very good U.S. labor market data yesterday and lower-than-expected Euro zone CPI reading, the EUR/USD is gradually getting higher. In our opinion this is a strong evidence of profit taking on EUR-selling positions taken ahead of the ECB’s QE decision last week.”
“The main event today is the release of U.S. GDP growth for the fourth quarter. Our forecast (3.0%) is slightly below the market consensus (3.1%)”
“EUR/USD trading strategy: long at 1.1300, target 1.1550, stop-loss 1.1240”