On Thursday, USD weakened, Euro price showed an upward trend, hitting the highest price of 1.1892, and closing at 1.1886. In early Friday trading, it fluctuated and dropped, and the current price is 1.1882. US’s second quarter gross domestic product (GDP) showed a growth rate of 6.5%, higher than the previous 6.4%, but lower than the expectation which is 8.6%. It shows that the United States has not yet approached the point of reducing debt purchases, and the Fed will not immediately withdraw from loose monetary policy.
From a technical point of view, Euro has been bullish for 5 consecutive days and broke through the short-term key resistance of 1.1880, and the moving average reacted quickly to form Golden Cross. H4 graph shows retracement and an upward ladder. The indicators are bullish across the board, and the bulls are confident in the short-term. Overall prioritize buying at low prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1880.
Resistance：1.1910-1.1950-1.1980
Support：1.1880-1.1850-1.1800
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