Economic Calendar Analysis
The currency pair might react to the upcoming release of the European and US Flash Manufacturing and Services sector PMIs. The European releases will happen from 07:15 up to 08:00 GMT. The US release is scheduled for 13:45 GMT.
EUR/USD hourly chart
A move above 1.1000 might be stopped by the weekly R1 or R2 simple pivot points at 1.1028 and 1.1118. In addition, the 1.1050 and 1.1100 could act as resistance.Meanwhile, a potential decline of the EUR/USD might find support in the combination of the 50 and 100-hour simple moving averages near 1.0940, before the pair reaches the combination of the 1.0900 mark and the 200-hour SMA.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has recovered back above the support and resistance zone at 1.0910/1.0940. Next target for the surge is expected to be the high level zone near 1.1100.Daily chart
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Traders areshort
On Thursday, trader open positions were bearish, as 62% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 53% to buy the Euro against the USD.