01.03.201909:53 Forex Analysis & Reviews: Burning forecast 03/01/2019

Long-term review

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On Thursday, the 4th quarter US GDP report was released - GDP grew +2.6%, significantly better than forecast (+1.9 + 2.3%) - but below the level of the 3rd quarter (+3.4%)

A strong report on US GDP supported the dollar, and the euro came under pressure.

The question is whether the euro can consolidate above the level of 1.1420 - or turn down.

There is no signal to cancel the upward trend yet.

We keep buying from 1.1315.

Possible purchases at the breakthrough of 1.1425.

Alternative: sell from 1.1315 downwards.

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