United Overseas Bank maintains a bullish view on EUR/USD in 1-3 weeks

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Press review

Sergey Golubev, 2015.08.27 10:48

Trading News Events: U.S. Gross Domestic Product (based on dailyfx article)

An upward revision in the 2Q U.S. Gross Domestic Product (GDP) report may boost the appeal of the greenback and spark a larger pullback in EUR/USD as it fuels speculation for a September Fed rate hike.

What’s Expected:

Why Is This Event Important:

The Fed may stay on course to normalize monetary policy in 2015 as the central bank still anticipates a stronger recovery to materialize over the coming months, and data prints encouraging an improved outlook for growth & inflation may spur a greater dissent within the committee as the economy gets on a more sustainable path.

However, easing job growth paired with the slowdown in building activity may drag on growth rate, and signs of a slower recovery may spur a further delay of the Fed’s normalization cycle as the central bank struggles to achieve the 2% target for inflation.

How To Trade This Event Risk

Bullish USD Trade: Growth Rate Expands Annualized 3.2% or Greater

• Need to see red, five-minute candle following the GDP report to consider a short trade on EURUSD.
• If market reaction favors a long dollar trade, sell EURUSD with two separate position.
• Set stop at the near-by swing high/reasonable distance from entry; look for at least 1:1 risk-to-reward.
• Move stop to entry on remaining position once initial target is hit; set reasonable limit.

• Need green, five-minute candle to favor a long EURUSD trade.
• Implement same setup as the bullish dollar trade, just in reverse.

• Near-term breakout in EUR/USD keeps the focus on the topside targets as the RSI retains the bullish momentum; will retail a constructive view along as the pair holds above former-resistance around 1.1180 (23.6% retracement) to 1.1210 (61.8% retracement).
• Interim Resistance: 1.1760 (61.8% retracement) to 1.1810 (38.2% retracement)
• Interim Support: Interim Support: 1.0790 (50% expansion) to 1.0800 (23.6% expansion)

1Q 2015 U.S. Gross Domestic Product (GDP)

EURUSD M5: 42 pips range price movement by USD - GDP news event:

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Press review

Sergey Golubev, 2015.08.27 13:33

Trade Ideas For EUR/USD (based on efxnews article)

EUR/USD: "Liquidity is very poor, although yesterday was slightly better than earlier in the week. Play the intraday moves, and expect sellers to come in on every move close to yesterday's break of 1.1466. Buyers will be lined up ahead of 1.1200."

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EURUSD Technical Analysis 2015, 23.08 - 30.08: weekly breakout

Sergey Golubev, 2015.08.27 14:47

EURUSD M5: 36 pips price movement by USD - GDP news event: