10 Mar 2015
USD bullishness intact – Westpac
FXStreet (Edinburgh) - The underlying upside in the greenback remains unchanged, noted strategists at Westpac.
Key Quotes
“The bull case for the USD remains as strong as ever, the Fed likely to remove "patience" from their lexicon when they meet 18 March, the ECB knee-deep in sovereign asset purchases and long term equity and fixed income capital flows decidedly hostile euro”.
“We remain bullish on the USD on a 1 and 3 month horizon and reinstate our bullish bias for the week ahead”.
“Last week’s impulsive break of long term resistance level at 95.86 (long term cloud / Fibonacci retracement) was a significant bullish trigger that confirms the end of the consolidation period and a return to the USD bull market”.
“Target further aggressive gains”.
Key Quotes
“The bull case for the USD remains as strong as ever, the Fed likely to remove "patience" from their lexicon when they meet 18 March, the ECB knee-deep in sovereign asset purchases and long term equity and fixed income capital flows decidedly hostile euro”.
“We remain bullish on the USD on a 1 and 3 month horizon and reinstate our bullish bias for the week ahead”.
“Last week’s impulsive break of long term resistance level at 95.86 (long term cloud / Fibonacci retracement) was a significant bullish trigger that confirms the end of the consolidation period and a return to the USD bull market”.
“Target further aggressive gains”.