German GDP 0.3% vs. 0.5% forecast, Buy EURUSD on dips!

Forex G trade
Forex G trade

Gross Domestic Product (GDP) is the broadest measure of economic activity and is a key indicator of economic health. The quarterly percent changes in GDP show the growth rate of the economy as a whole.

The German (GDP) fell from  0.7% to 0.3%  in the previous quarter, analysts had expected German  GDP to stand around 0.5% last quarter.

This development should effect EURUSD in 2 ways:

Medium term: The effect will show within weeks: (It will limit the upward moves)..

Short term: The effect will appear immediately and will last for a couple of days, since the daily trend is up, limited losses are likely before the next rise…

Recommendations : Buy EURUSD on dips, support area 1.1178 levels….

 

EURUSD_H4_May_13

MARKET DATA

UPCOMING ECONOMIC EVENTS