February 25th 2020.

The final German GDP for the fourth-quarter confirmed the previous reading, but private consumption was revised lower. Germany is leading depressed Eurozone data, which is expected to continue throughout the first quarter of 2020 and possibly beyond. The EURUSD completed a breakout above its horizontal support area, but where is this currency pair headed to next? Today’s fundamental analysis will take a look at price action in both directions.

Forex traders will get more US housing data today, which plays a crucial role in consumer confidence and spending. Economists predict an increase, followed by a rise in consumer confidence. A regional manufacturing report will also be released, but the main focus remains on disruptions caused by the coronavirus. Will bulls built on the breakout or can bears force a reversal? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.