The German GDP for the fourth quarter came in lower than expected, followed by a minor disappointment in the Eurozone GDP. Eurozone employment increased steadily and the trade surplus rose. This helped the EURUSD regain stability inside of a strong horizontal support area. Forex traders now await US economic data, how will it impact price action? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

Retail sales data out of the US is expected to move the US Dollar today. Economists predict an increase in all sub-categories. Industrial production is expected to contract again, with a small increase in manufacturing production. Finishing the trading week will be consumer confidence data for February. Will bulls get economic data to pressure the EURUSD into a breakout or will bears force more downside? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.