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The European Union released the GDP numbers

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The European Union released the GDP numbers 

  • GDP QoQ  Prev  0.6 vs  0.6% actual
  • GDP YoY   Prev  2.7% vs  2.6 % actual
This release of number Indicating further Contraction of European economy the euro is trading at the 1.2380 
you can have look on Technical Analysis On EURUSD 

We have several Events ahead Such as speech for ECB’s members as we sen in previous article you could see it here Economic Calendar- Today’s Brief
Several other data from the eurpean Union alos released lets have look on it 

  • Business and Consumer Survey (Jan)  114.7(act) 115.3(pre)
  • Business Climate (Jan)                           1.54(act)  1.69(pre)
  • Consumer Confidence (Jan)                    1.3(act)     1.3(pre)
  • Consumer Inflation Expectation (Jan)   19.6(act)   13.6(pre)

Placing limit orders in advance can often be useful given the occasional speed of moves and subsequent reversals, although equally it can be prudent to wait and manually trigger executions once you’ve sized up the data in its entirety and gauged the price action.


Source :MT4 Platform 

After release of data EURUSD gained by 40 pisp and rising above support levels if the price sustained above the resistance we could see next resistance levels which is near 1.2600 levels .

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