For the period January-March, the German GDP in quarterly terms grew by 0.7%, after 0.3% growth for the 4th quarter of last year. It has reported the Federal Statistical Office of Germany. These were higher than the average forecast of experts, expect to see 0.6% growth. According to the annual equivalent, the economy showed expansion of 1.3%, reaching 1.5% forecast.
Price failed slightly below 1.1450 and resumed the southern movement, breaking support at 1.1350.
In the area of 1.1260 is the first support below 1.1150. In the area of 1.1350 is the first resistance, above - 1.1450.
A sell signal is strong and confirmed. Price is below the domain ka and below the Ichimoku Chinkou-Span.Tenkan-sen shows the downward movement and the Kijun-sen - the horizontal, and form "Dead Cross". The urgency of the downward movement will continue as long as the price is below the Ichimoku cloud.
Histogram MACD is in the negative zone. Price falls.
Trading recommendations EUR / USD
if the decline will continue and will be broken 1.1260 mark, quotes will be free to go to 1.1150.
Source Fort Financial Services