Sforex comes back after 6 months of absence on TradingView; I need time to develop my own website and my own trading system;now I will post my signals and analysis frequently.
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- Now I begin the return by consider EURUSD .
+ Next 48h, the main focus will be US GDP (P).
US data last two months indeed was very negative; hence, many forecasters think that US GDP could downgrade in Q1.
FED assume that recent lost momentum of US economy was just a transition, and the advance would return on Q2, and they still leave the rate hike decision on the table.
At least we see FED is the only who wants to tight .
The previous data is: 0.2%, Consensus: -0.8%
In my opinion, the Consensus which forecasters and economists release is too cautious. My forecast is 0.1% or in line the previous data 0.2%
I still put my faith on DOLLAR .
E/U is now below SMA50 + SMA100
Strong is at 1.1060 I draw on the chart.
If you want to engage a trade right now: You should place stop loss above 1.1060 to protect your position.
In my opinion,I will enter a SHORT Limit order at 1.1060, stop loss at 1.1200, take profit at 1.0500
In the long term, USDOLLAR is still a good choice to BUY, there is still more room for the appreciation of greenback.
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