25 Feb 2015
EUR/USD to test 1.15 levels on a optimistic Draghi – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, views that an upbeat outlook on the economy by Draghi could boost the EUR/USD, expecting the pair to move towards 1.15 on a break above 1.1430 levels.
Key Quotes
“The pair is moving in a range of 1.1260 and 1.1443 (23.6% Fib retracement of 1.2568-1.1096) for almost two-weeks now.”
“With no major economic data due out of the Eurozone today, the focus is solely on Draghi’s comments on the monetary policy and the economy.”
“Given the 4-month solution to Greece’s debt issue and slightly dovish Yellen, the EUR/USD could see a break above 1.1430 if the ECB president Draghi turns optimistic over the recent improvement in the economic data. The German economy is clearly the bright spot, while aggregate Eurozone data were also impressive in the last few days.”
“Though prices continued to deflate in January, Draghi is likely to put the onus on falling energy prices.”
“With a very less scope for hinting at more aggressive measures than the one already announced, the EUR/USD stands to gain on Draghi’s optimistic outlook. In such a case the pair could rise above 1.1430 to test 1.15 levels.”
“On the flip side, a gloomy outlook could send the pair down to 1.1260. However, it would take a daily close below 1.1260 to see further weakness towards 1.12 levels”
Key Quotes
“The pair is moving in a range of 1.1260 and 1.1443 (23.6% Fib retracement of 1.2568-1.1096) for almost two-weeks now.”
“With no major economic data due out of the Eurozone today, the focus is solely on Draghi’s comments on the monetary policy and the economy.”
“Given the 4-month solution to Greece’s debt issue and slightly dovish Yellen, the EUR/USD could see a break above 1.1430 if the ECB president Draghi turns optimistic over the recent improvement in the economic data. The German economy is clearly the bright spot, while aggregate Eurozone data were also impressive in the last few days.”
“Though prices continued to deflate in January, Draghi is likely to put the onus on falling energy prices.”
“With a very less scope for hinting at more aggressive measures than the one already announced, the EUR/USD stands to gain on Draghi’s optimistic outlook. In such a case the pair could rise above 1.1430 to test 1.15 levels.”
“On the flip side, a gloomy outlook could send the pair down to 1.1260. However, it would take a daily close below 1.1260 to see further weakness towards 1.12 levels”