EUR/USD long for 1.1000 – GrowthAces

FXStreet Team FXStreet

FXStreet (Barcelona) - The GrowthAces Research Team maintains their bullish outlook on EUR/USD, targeting 1.1000.

Key Quotes

â€œWe wrote in our Wednesdayâ€™s Trading Strategies Update released after the Fed statement and yesterdayâ€™s Market Overview that the USD rally might be over and we maintain our opinion despite overwhelmingly one-sided market positioning.â€

â€œOur previous long taken at 1.0750 hit the stop-loss level. The position was taken too early, we did not anticipate strong USD recovery yesterday. However, this recovery does not change our outlook that the bearish EUR/USD is over. We got long again at 1.0670 today and set the target at 1.1000.â€

â€œSignificant technical analysis' levels:

Resistance: 1.0796 (hourly high Mar 19), 1.0920 (session high Mar 19), 1.0940 (21-dma)

Support: 1.0650 (hourly low Mar 20), 1.0613 (low Mar 19), 1.0580 (low Mar 18)â€

â€œEUR/USD: long at 1.0670, target 1.1000, stop-loss 1.0500, risk factor *â€

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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