On Friday, after the last notable events, the EUR/USD was looking for support in the weekly simple pivot point at 1.0829. Meanwhile, resistance was encountered in the 50-hour simple moving average near 1.0878.
Economic Calendar Analysis
Next week, watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable events scheduled that can impact the financial markets.
EUR/USD hourly chart
A move below 1.0829 might result in the pair looking for support in the 1.0800 mark, before it reaches the last week's and August low level at 1.0766. This level acted as support on August 25 and caused the recent recovery.On the other hand, a recovery of the pair would have to break the combination of the 50-hour simple moving average, the weekly R1 simple pivot point at 1.0892 and the 1.0900 mark. Higher above, note the resistance range at 1.0930/1.0950.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, due to the ongoing fundamental releases, the pair has ignored the 100 and 200-day simple moving averages. However, note that they might resume to act upon the currency exchange rate.Daily chart
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Traders are bullish
On Friday, the Swiss Foreign Exchange traders were 65% in long positions.
Meanwhile, trader set up pending orders in a 100-point range around the current rate were 56% to buy the Euro against the US Dollar.