Expertise: Trading Psychology; Speculative Positioning & Market Sentiment; Technical & Fundamental Analysis.

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EUR/USD dropped under pressure due to the reading of Wednesday’s from the United States and it dropped below the 1.1300.  A flag pattern gives hint that there could be some further downside, even though actual support is nearby.

On Wednesday, CPI data was not become a catalyst for a EUR/USD above its 200 weekly moving average, at the starting of the release the pair was hovering below.

Remarks Thursday docket is very light according to data, so all traders eyes will be on the U.S. retail sales scheduled for release on Friday.

Daily Support and Resistance
S3 107.87
S2 108.24
S1 108.4
Pivot Point 108.6
R1 108.76
R2 108.96
R3 109.33

    

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