EUR/USD May Recover Ahead Of U.S. GDP Figures
FxGrow | Apr 28, 2016 04:33AM ET
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.
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