Jin_LCMSTraders

EUR/USD Outlook (15 May 2020)

FX:EURUSD   Euro / U.S. Dollar
Overall, EUR/USD is ranging across. Recently, EUR/USD bounced off the support level of 1.07800.

The German Preliminary GDP q/q data (Forecast: -2.2%, Previous: 0.0%) will be released later at 1400 (SGT).
The German economy is expected to be in negative growth.

The eurozone Flash Employment Change q/q and Flash GDP q/q data will be released later at 1700 (SGT).
  • Flash Employment Change q/q (Forecast: -2.0%, Previous: 0.3%)
  • Flash GDP q/q (Forecast: -3.8%, Previous: -3.8%)

Currently, EUR/USD is moving towards the support level of 1.07800 and the next resistance level is at 1.09700.
Look for short-term selling opportunities of EUR/USD if the data releases are bad.

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