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EUR/USD May Recover Ahead Of U.S. GDP Figures

EUR/USD May Recover Ahead Of U.S. GDP Figures

EUR/USD May Recover Ahead Of U.S. GDP Figures

The EUR/USD is playing a sideways congestion in the last 2 days, staying in a range between 1.1255 and 1.1355 as Draghi argued that more time is needed to assess the impact of a large stimulus expansion before considering further easing. But the EUR/USD started increasing after the Fed statement yesterday, with the Fed showing slower economic growth in the US and staying cautious regarding a rate hike. Breaking 1.1370 will keep moving higher toward 1.1410 and 1.1450.

However, the EUR/USD might fail a bullish breakout awaiting US GDP figures today, and breaking 1.1275 may continue its downward wave toward next support points 1.1235 and 1.1190.

EUR/USD Chart

Disclaimer: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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