French preliminary GDP beat forecast by increasing at a pace of 0.3%. Economists estimated the figure to be at 0.1% after the poor Q2 results. In Germany, the preliminary GDP matched estimates at 0.1%.
The Eurozone is finally showing signs of growth but it is still unwise to go long on EUR/USD unless it is a scalp or short term position. The US economy is still strong and on a day like today, in spite of the good Euro numbers, core retail and retail sales beat estimates making it a dangerous situation for traders who held on to their long positions.
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