EUR/USD brakes small pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA
 Positions Today Yesterday Change
 Longs 38% 42% -10.5%
 Shorts 62% 58% 6.5%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Buy Buy Neutral
 Alligator(13;8;5) Sell Sell Sell
 SAR(0.02;0.2) Sell Sell Buy
 Aggregate

The European Single Currency passed through the strong support level of the small pattern line at 1.1309. On Thursday morning, the rate was resisted by the 55-hour and the 100-hour SMAs to push the rate to the 1.1265 mark. Note, some corrections were applied to the chart! 

In regards to the near-term future, it is expected that the currency exchange rate will depreciate towards the 61.80% Fibonacci retracement level at the 1.1203 mark. 

On the other hand, today's US Retails Sales, Core Retail Sales, PPI and Core PPI data release at 13:30 GMT could push the US Dollar to appreciate against the European Single Currency to trade at the 1.1280 level.

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