EUR/USD: Ready for growth.
Morning review.
Minutes of the Fed and Eurozone GDP are in favor of the euro.
On Wednesday, August 16, the euro showed a reversal to growth. Having made a false break down to 1.1685, a sharp reversal and an increase of 1.1780.
At the level of 1.1680, a very strong "bottom" is formed. The pair is ready to attempt a breakthrough to the upper daily level of 1.1850 and then the weekly level of 1.1910.
What was the impetus? Eurozone GDP grew above the forecast + 2.2%. All analysts note the acceleration of the growth of the EU economy, in contrast to a clear slowdown in the US. This shifts investor attention to assets in euros.
"Minutes" of the Fed on Wednesday showed that many representatives of the Fed noted a slowdown in inflation. A clear excuse not to rush in raising rates. At the same time, the Fed believes that this phenomenon (price slowdown) is temporary.
We are now in the purchase of 1.1760 but subject to a down turn, we will sell from 1.1680.
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