FX.co ★ Daily review on EURUSD for May 27, 2020

Fitch has updated its forecast for a drop in GDP in 2020. Thus, the eurozone GDP will decrease by 8.2%, while the GDP of Italy, Spain, and France will fall to -9% and -9.5%.

Britain's GDP -7.8%

China's GDP + 0.7%

US GDP -5.6%

Japan's GDP -5%

According to Fitch, a positive thing is that, the bottom of the fall in economies is already close as the fall has already occurred.

This is generally positive, however, keep in mind that this argument has already been won back by the stock markets and even with an overlap.

EURUSD:

Attempted to grow.

We are waiting for a breakthrough in zone 1.1000 - 1.1020 upward. You may try to enter the breakdown or wait for consolidation above then buy from the rollback later.