Economic Calendar Analysis
On Friday, The United States employment data release at 13:30 GMT is highly likely going to impact the US Dollar. Later on, at 15:00 GMT the ISM Services PMI is set to cause minor impact on the financial markets.
EUR/USD hourly chart
A move below 1.0500 level might look for support in the 1.0450 and 1.0400 levels. These levels acted as support in early December. Further below, note the late November low levels near 1.0300.On the other hand, a recovery of the currency exchange rate is expected to encounter resistance in the weekly S3 simple pivot point at 1.0514. Higher above note the combination of the weekly S2 simple pivot point at 1.0556 and the 1.0550 level.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has reached the 1.0500 mark, which acted as resistance in late November and as support in early December.Meanwhile, note the support of the 50-day simple moving average near 1.0425 and the 2022 support and resistance zone at 1.0350/1.0400.
Daily chart
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Traders are short
On Friday, trader open positions were bearish, as 54% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 63% to sell the Euro against the USD.