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.
