EURUSD: Germany GDP, US GDP revision, and Consumer Confidence

FX:EURUSD   Euro / U.S. Dollar
359 0 5
Next 24h, market pay all attention in EURUSD             pair with heavy data which affect strongly on market.

- Germany GDP
- US GDP revision
- Consumer Confidence
- PCE data

With Germany GDP, I bet to 80% this piece of data will be negative. If you recheck the performance of Germany data recent month, red covered the economic calendar, so this will transfer to Germany GDP tomorrow.

However, the data which makes me to very hesitate is US GDP revision. previous number was 1.2% , and consensus predict US GDP would stand at 1.2% means unchanges vs previous number. The problem is US data from previous data was very mixed, positive data and negative data alternate together and make me so headchade to forecast. To give a judgement for US GDP tomorrow, I think US economy should perform better than the 1.2% number, I bet on 1.5% ~ 2%

With US Consumer Confidence, I think US economy continue to perform as the brightest spot of global economy and US consumers should be more confident like FED is. Hence, a positive number is my choice.

- Look at on the chart, EURUSD             is being sideway in a descending channel , only 200 pips to the YEAR LOW at 1.0450

I think EURUSD             should test this strong support.



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