DUE TO STRONG SUPPORT AND RESISTANCE LEVEL THE EURUSD WILL GO DOWN A BIT FROM THE CURRENT PRICE LEVEL 1.2000 AREA TO 1.11911 AND FROM THERE BUY TO 1.12550. FROM 1.12550 IT WILL BE GOOD TO SELL BECAUSE THE BEARS ARE STILL IN CONTROL ON DAILY AND WEEKLY CHART.
To summarize, the leading reports point to another robust reading for GDP growth. However, net trade was likely an even bigger drag on GDP growth in Q1, which supports the consensus for a weaker rate of expansion in Q1 2018.
The GDP price index, meanwhile, likely picked up the pace in Q1, which is contrary to expectations for a slightly weaker reading.