Economic Calendar Analysis
This week, there are no more events scheduled that could impact the rate.
EUR/USD hourly chart analysis
A move above the 200-hour SMA would face the 1.0800 mark. Higher above, take into account the weekly simple pivot point at 1.0821 and the weekly S1 simple pivot point at 1.0862.On the other hand, a decline of the Euro against the US Dollar is expected to be slowed down by the 50 and 100-hour simple moving averages, before the rate reaches the weekly S1 simple pivot point at 1.0744 and the 1.0720/1.0740 range.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the assumed new channel down pattern has been broken. Recent fundamental events provided enough momentum to pass below the 100 and 200-day moving averages and break the pattern.In regards to the future, note that the 1.0630/1.0700 range could act as support, before the pair reaches the October low level at 1.0500.
Daily chart
Read More: Technical Analysis
Traders are neutral
On Friday, traders were 50% long and short. Namely, open position volume was balanced.
Meanwhile, pending orders in the 100-pip range around the pair were 51% to buy.
Mid-Thursday, positions were 53% long and orders were 58% to buy.