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EUR/USD Forecast May 2-6
EUR/USD had an excellent week, riding on USD weakness to rally but was contained by tough resistance. Will it bounce or break? . Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. GDP growth beat expectations with 0.6% q/q in the euro-area. Also the unemployment rate is falling, with 10.2%. However, the ECB’s mandate is seeming less achievable in the short term at least. Inflation fell back to negative territory with -0.2%, below expectations. Also core inflation missed with +0.8%. Nevertheless, the dollar’s poor performance is what drove the pair higher: the Fed is ... (full story)