On Thursday, the situation was developing negatively for the euro. Early in the morning the investors started to act in advance and their expectations were reasonable; US GDP in the second quarter in the second estimate was revised upwardly from 1.7% to 2.5%, forecast was 2.2%. The Asian banks were initiators of US dollar purchases. The status quo in Syria will last until Friday, when the UN supervisors leave the country.
Amid the uncertainty in the region, the investors would prefer to close short positions, which will be expressed in the upward correction. At 10:00 UTC+4 data on Retail Sales in Germany in July is issued; it is expected to grow 0.5%-0.6% vs. a 1.5% drop in June. At 13:00 UTC+4 Unemployment Rate in the Eurozone is published, forecast flat, 12.1%.
In the US data on Personal Spending and Personal Income in July is published (16:30 UTC+4), the rise of the income is expected to be 0.2%-0.3%, the same as in June; spending is expected to grow 0.3% against 0.5% in June.
At 17:55 UTC+4 Consumer Confidence Index in August in final estimate is published; forecast 81.2 vs. 80.0 in the previous month.
From the technical point of view, when the testing level 1.3266 is broken, we expect the rise of the price to the resistance of trend line on the H4, 1.3287, or even higher to the low of August 22, 1.3297. If the price consolidates under the lower level of 1.3238, continuation of decline to 1.3205/08, the low of August 15, support of trend line on the H4, is possible. Then there is 1.3180, support of trend blue line on the H4.
