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| EUR/USD four-hour chart, source:FXDD.com |
On Friday, the GDP in first quarter in the United States recorded higher than that of market expectation. The economy-growth rate was released at annual rate of 3.2 percent and the market predicted 2.5 percent.
It led stock market index high and dollar rising. And euro plunged. But lowered inflation restrained the flow of currencies.
Good economic indicators have been seen as signs of a recovery in the global economy and led to a weak dollar, but now it has led to a stronger dollar. Because economy situation in euro zone is worse than that in America.
The technical analysis is not very powerful in these days. Though you watch the market with technical tools, you'd better monitor the economy news, events and political issues.
Federal Open Market Committee, FOMC will meet next Wednesday to announce the benchmark interest rate. It is expected the benchmark interest rate is hold at 2.5 percent or fallen. Anyway it supports weak greenback, I think.
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