EUR/USD drops to 1.1730 amid PPI release

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 46% 45% 2.17%
Shorts 54% 55% -1.85%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

In accordance with expectations, until release of information on the US PPI the currency rate was slowly fluctuating near the 55- and 100-hour SMAs. But since the data was better than analysts' expected the pair broke through the 38.2% Fibonacci retracement level and once again ended up in support zone located between the 1.1730 and 1.1722 marks.  

Until release of an update on the American inflation the rate is expected to continue fluctuating near the upper boundary of a minor descending channel. In case of disappointing result, depreciation of the buck might elevate the pair up to the 1.1800 level. 

However, the rate is still expected to plunge to the area between the 23.6% retracement level at 1.1681 and the monthly S2 at 1.1652 due to alleged interest rate hike.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.