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EUR/USD binary signal - U.S. Final GDP - 28 Mar 2018

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Signal details
Entry Price: 
1.2400
Close Price: 
1.2300
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
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The final revised estimates for the third quarter GDP for the United States will be released today at 12:30 GMT. According to the economists polled, the final GDP marking the fourth quarter is expected to rise 2.7% on the quarter. This marks a modest pickup in the fourth quarter GDP ending December 2017.

The data is unlikely to move the markets much considering that investors are already focusing on the first quarter GDP data for 2018. The final GDP price index is expected to remain unchanged at 2.3% reflecting the previous estimates. The U.S. economy was seen slowly building momentum since the second half of last year.

Although inflation remained flat, the economic growth was seen to be rising rather rapidly. However, GDP growth was seen cooling by the final quarter of 2017. The recent FOMC meeting saw officials upgrading their GDP forecasts as they expect to see a pickup in the momentum looking ahead.

A better than expected GDP data for the fourth quarter could only help to push the sentiment in the U.S. dollar slightly higher. However, the global themes currently playing out are likely to offset any hawkish surprise. While the U.S. economy is expected to grow into 2018, the fiscal and trade policies by Washington is expected to keep this sentiment in check and also brings more uncertainty to the markets.

Based on the above today's binary signal is EURUSD. The currency pair has been biased to the upside although price action was seen bearish in the very short term. We expect a modest retracement back towards 1.2400 following which EURUSD should be pushing higher.

Therefore, we would go for daily CALL options in EURUSD at 1.2400 for a 20:00 GMT expiry time as we expect the bullish momentum to resume in the near term.

binary options signal eurusd 28 mar 2018

Comments

kamal1956's picture

today bad signal !!!!!

kamal1956

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.