Economic Calendar Analysis
EUR/USD hourly chart's review If the exchange rate breaks the 100– hour SMA support line at 1.1746, a decline towards the 61.80% Fibonacci retracement level at 1.1723 could be expected within the following trading session.
However, if the support line holds, buyers could drive the EUR/USD currency exchange rate higher during Friday's trading session.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, EUR/USD pair appears to be retracing back up after breaching the support of the 1.1700 level. The additional resistance of the 55-day simple moving average could provide the rate with enough resistance for a resumption of the decline.A potential larger scale decline could aim at the November and September low level at 1.1600.
Daily chart
Read More: Technical Analysis
Traders are long
On Thursday, on the Swiss Foreign Exchange trader open positions were long, as 60% of open position volume was in long positions.
On Friday, 65% of volume was bullish.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 73% to sell the currency exchange rate.