Burning Forecast 22/12/2017

Burning Forecast 22/12/2017

EURUSD: Buy for a breakdown of 1.1900

On Thursday, a bundle of important data on the US came out:

The GDP report showed growth that was slightly below the forecast at +3.2% (the forecast was +3.3%).

The inflation index for GDP (deflator) at the level of 2.1% - without growth.

The index of leading indicators is below the forecast, a slowdown in growth.

Business profit growth at +9.8% (annual) - slightly decreased (was +10%).

Indices of business activity: Contradictory - Philadelphia - growth, Chicago - slowdown.

Bottom line: Slight slowdown, inflation remains low.

The euro showed a strong rebound down to 1.1815 - but the growth has not yet been broken.

On Friday 22.12 - the last day of trading before Christmas.

EURUSD: Buy for a breakdown of 1.1900, stop-loss at 1.1855, profit of 1.2080.


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