EURUSD

The exchange rate may find direction this week due to the upcoming Germany GDP data and EU inflation figures. Germany's Q1 GDP, which is expected to show a growth of 0.2%, will be announced on Wednesday, and data supporting the exit from technical recession would be positive for the markets. On the same day, the Eurozone CPI is expected to come in at 0.3%, which could strengthen expectations for an interest rate cut by the ECB in June. On the US side, inflation data and GDP will be significant. The first quarter GDP is expected to decline to 0.4%, while a monthly decrease of 0.1% in Core Personal Consumption Expenditures could provide upward support for the EUR/USD exchange rate. In a currency pair where the positive outlook continues from a technical perspective, it is deemed appropriate to evaluate positions based on support levels.