EUR/USD trades within familiar levels around 1.2240, ahead of Wall Street’s opening. The pair has limited bullish scope in the near-term, stuck below the year’s high,
“German GFK Consumer Confidence Survey was printed at -7.3 in January, better than the -9.5 forecast. Meanwhile, the US has published the final version of the third quarter Gross Domestic Product, upwardly revised to 33.4% YoY.”
“The EUR/USD pair needs to advance beyond 1.2275 to gain bullish momentum, while dips towards 1.2129, the weekly low, will likely attract buying interest.”
“German GFK Consumer Confidence Survey was printed at -7.3 in January, better than the -9.5 forecast. Meanwhile, the US has published the final version of the third quarter Gross Domestic Product, upwardly revised to 33.4% YoY.”
“The EUR/USD pair needs to advance beyond 1.2275 to gain bullish momentum, while dips towards 1.2129, the weekly low, will likely attract buying interest.”