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8 May 2015
US NFP might not be strong, long EUR/USD – Growth Aces
FXStreet (Barcelona) - The Growth Aces Research Team, notes that the market remains too optimistic for US NFP results, and further suggests remaining long on EUR/USD, targeting 1.1450 levels.
Key Quotes
“The EUR/USD retreated from 1.1392 high yesterday. The USD firmed against a basket of currencies on the initial jobless claims data. The data helped bolster expectations for a relatively strong employment report today (U.S. non-farm payroll data will be released at 12:30 GMT).”
“The April jobs report is likely to show a pickup in hiring, reversing the disappointing reading of last month. However, the market forecast for a 224k gain in employment seems to be quite optimistic and we do not expect the reading to be strongly better, especially after weak ADP data on Wednesday.”
“Our buy order on the EUR/USD was filled at 1.1235. We set the target at 1.1450, daily highs on February 17 and February 19.”
Key Quotes
“The EUR/USD retreated from 1.1392 high yesterday. The USD firmed against a basket of currencies on the initial jobless claims data. The data helped bolster expectations for a relatively strong employment report today (U.S. non-farm payroll data will be released at 12:30 GMT).”
“The April jobs report is likely to show a pickup in hiring, reversing the disappointing reading of last month. However, the market forecast for a 224k gain in employment seems to be quite optimistic and we do not expect the reading to be strongly better, especially after weak ADP data on Wednesday.”
“Our buy order on the EUR/USD was filled at 1.1235. We set the target at 1.1450, daily highs on February 17 and February 19.”