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23 Feb 2015
Yellen not expected to drop any hawkish hints – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team share the key technical levels and the trade setup for EUR/USD, and further comment that citing the weaker macro data in the US Yellen might refrain from dropping any hawkish hints.
Key Quotes
“We got long again at 1.1325 today, in line with our trading strategy .The EUR/USD may get another lift today If Greece satisfies the EUR with the list of promised reforms in order to secure the fourth-month extension."
“We should know that the market never really priced in worst case scenarios involving Greek bank insolvency or a Greek sovereign default.”
“Investors' attention will shift to Fed Chair Yellen testifying before Congress on Tuesday. Let us remind that we had dovish minutes and some quite hawkish speeches from Fed officials recently and the Congressional testimony would be a good opportunity to clarify to policy outlook.”
“We do not expect any hawkish hints from Yellen given some weaker macroeconomic data from the U.S. economy.”
“Resistance: 1.1430 (high Feb 20), 1.1450 (high Feb 17), 1.1486 (high Feb 6)”
“Support: 1.1278 (low Feb 20), 1.1270 (low Feb 9), 1.1262 (low Jan 29)”
“EUR/USD trading strategy: long at 1.1325, target 1.1550, stop-loss 1.1250”
Key Quotes
“We got long again at 1.1325 today, in line with our trading strategy .The EUR/USD may get another lift today If Greece satisfies the EUR with the list of promised reforms in order to secure the fourth-month extension."
“We should know that the market never really priced in worst case scenarios involving Greek bank insolvency or a Greek sovereign default.”
“Investors' attention will shift to Fed Chair Yellen testifying before Congress on Tuesday. Let us remind that we had dovish minutes and some quite hawkish speeches from Fed officials recently and the Congressional testimony would be a good opportunity to clarify to policy outlook.”
“We do not expect any hawkish hints from Yellen given some weaker macroeconomic data from the U.S. economy.”
“Resistance: 1.1430 (high Feb 20), 1.1450 (high Feb 17), 1.1486 (high Feb 6)”
“Support: 1.1278 (low Feb 20), 1.1270 (low Feb 9), 1.1262 (low Jan 29)”
“EUR/USD trading strategy: long at 1.1325, target 1.1550, stop-loss 1.1250”