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EUR/USD Resumes Rally After Losing Thursday’s Gains

EUR/USD resumed its upward movement today after losing its gains yesterday. The currency pair retreated after US President Donald Trump said that he wants stronger dollar. Today, EUR/USD rebounded, though is struggling to keep gains right now.

Advance estimate for US GDP showed growth by 2.6% in Q4 2017. That was below the average forecast of a 3.0% increase and the 3.2% growth registered in Q3. (Event A on the chart.)

Durable goods orders increased by as much as 2.9% in December, far more than analysts had predicted — 0.9%. Furthermore, the previous month’s increase got a positive revision from 1.3% to 1.7%. (Event A on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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