Economic Calendar Analysis
On Friday, at 12:30 GMT, the US employment data will impact the USD and all rates that involve it. The release will consist of the US Average Hourly Earnings change, Non-Farm Employment Change and the official Unemployment Rate.
EUR/USD hourly chart
A decline below 1.0900 mark could eventually reach the support of the July low levels at 1.0835/1.0840, the weekly S2 simple pivot point at 1.0829 and afterwards the 1.0800 mark. In addition, note the trend line which connects the lower low levels of the broader decline.On the other hand, a recovery of the Euro against the US Dollar would have to break the 1.0935/1.0945 range, before a surge starts. A move above 1.0945 could be slowed down by the 50 and 100-hour simple moving averages and the descending resistance line. Higher above, note the 1.1000 mark.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has been declining since the attempt to pass above 1.1250. Last week, the currency pair reached the combined support of the 1.0950 level, the 50 and 100-day simple moving averages and the lower trend line of a channel up pattern.On Tuesday, it appeared that the support had partially failed, as the trend line was pierced. However, the moving averages were still acting as support. On Thursday, the moving averages also failed. It appears that the combination of the 1.0850 level and the 200-day SMA might stop the decline.
Daily chart
Read More: Technical Analysis
Traders are neutral
On Thursday, the Swiss Foreign Exchange traders were 52% in long positions.
Meanwhile, trader set up pending orders in a 100-point range around the current rate were 54% to sell the Euro against the US Dollar.