The US GDP was announced earlier this morning, and it came out better than expected (3.5% vs. 3.2%). For the first time in more than a year the US is showing an expansion, this makes traders and investors think about the recovery of the world crisis, is it over? I don’t know, but certainly this is very good news for all of us.
We know everyone’s main focus right now is at GDP numbers, last Friday, we the market took a big impact because of UK’s GDP, today the same happened on the US figures, so expect a lot of impact in future GDP releases.
Now, about technical analysis, I would say the best thing to do in the Forex Majors is to wait for the next week, then I think we’ll have a clearer market condition. Something interesting could be developing in the EURUSD and USDCHF, but we’ll have to wait for further confirmation.
My main focuses right now are:
GBPCHF, which is in a clear bullish market condition and I’m looking for long trading opportunities, and
EURGBP, which is in a clear bearish market condition, and looking for short opportunities.