29 Apr 2015
EUR and GBP might see further gains if Fed remains dovish – InvestingBetter
FXStreet (Barcelona) - Alpesh Patel of Investing Better, sees additional gains possible for EUR/USD and GBP/USD towards 1.1200 and 1.5500 levels in case the Fed meeting outcome remains dovish.
Key Quotes
“Ahead of this important Fed meeting and its possible consequences the rest of the currencies extended their gains against the Greenback. The Euro almost hit 1.1000 over the past 24 hours also lifted by the changes in the Greek negotiation team. The Cable was also on the rise and is trading around the 1.5350 area this morning, disregarding the decline in the Gross Domestic Product report."
"Should the Fed appear more dovish in their statement tonight both the Euro and the Cable will have the opportunity to move even more to the upside. The Euro will be looking towards the 1.1200 area as the next stop while the Cable could be looking towards 1.5500 if it receives further lift from Dollar’s decline.
Key Quotes
“Ahead of this important Fed meeting and its possible consequences the rest of the currencies extended their gains against the Greenback. The Euro almost hit 1.1000 over the past 24 hours also lifted by the changes in the Greek negotiation team. The Cable was also on the rise and is trading around the 1.5350 area this morning, disregarding the decline in the Gross Domestic Product report."
"Should the Fed appear more dovish in their statement tonight both the Euro and the Cable will have the opportunity to move even more to the upside. The Euro will be looking towards the 1.1200 area as the next stop while the Cable could be looking towards 1.5500 if it receives further lift from Dollar’s decline.