US Final GDP is a key release and is published each quarter. GDP reports measure production and growth of the economy, and are considered by analysts as one the most important indicators of economic activity. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 12:30 GMT. Indicator Background US Final GDP is the final of three GDP reports. Traders should pay close attention to this GDP release, as an unexpected reading could quickly affect the direction of EUR/USD. US Preliminary GDP posted a gain of 0.8% in Q1, matching the estimate. The estimate for Final GDP for Q1 stands at 1.0%. Sentiments and levels The stunning Brexit is now reality and it is not good news for Europe. Even if there is no new stimulus from the ECB, the economic situation is likely to deteriorate. Over in the US, the Fed is not likely to raise rates anytime soon. However, monetary policy divergence will continue with the ECB continuing its QE program at full speed. So, the overall sentiment is bearish on EUR/USD towards this release. Technical levels, from top to bottom: 1.1230, 1.1175, 1.1070, 1.10, 1.0905 and 1.0825 5 Scenarios Within expectations: 0.7% to 1.3%: In such a scenario, EUR/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 1.4% to 1.8%: An unexpected higher reading can push the pair below one support line. Well above expectations: Above 1.8%: A strong reading would likely boost the dollar, and the pair could break below a second support line as a result. Below expectations: 0.2% to 0.6%: In this scenario, EUR/USD could push above one resistance level. Well below expectations: Below 0.2%. A poor reading could result in the pair breaking above a second resistance line. For more on the euro, see the EUR/USD forecast. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next Elliott Wave Analysis: AUDUSD trading in a downtrend, more Gregor Horvat 6 years US Final GDP is a key release and is published each quarter. GDP reports measure production and growth of the economy, and are considered by analysts as one the most important indicators of economic activity. A reading which is higher than the market forecast is bullish for the dollar. Here are all the details, and 5 possible outcomes for EUR/USD. Published on Tuesday at 12:30 GMT. Indicator Background US Final GDP is the final of three GDP reports. Traders should pay close attention to this GDP release, as an unexpected reading could quickly affect the direction of EUR/USD. US Preliminary… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
