Economic Calendar Analysis
The week's notable events are over.
Next week, the financial markets might move on Wednesday, at 18:00 GMT. At that time the Federal Reserve Meeting Minutes will be published. The minutes is a protocol of the prior meeting held by the Federal Open Markets COmmittee on the US monetary policy. New information might cause an adjustmetn of the US Dollar's value.
EUR/USD hourly chart analysis
The decline of the Euro against the US Dollar might be slowed down by the 100-hour simple moving average. Further below, note the mentioned 1.0935/1.0950 zone and the 200-hour simple moving average. If these levels fail, the 1.0900 mark is expected to once again impact the rate.On the other hand, a strengthening of the Euro, compared to the Dollar, might result in another test of the 1.1100 mark. A move above 1.1000 is set to face resistance in the August high levels near 1.1050.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair is being kept down by the upper trend line of the large scale channel up pattern that has guided the rate up throughout summer.Daily chart
Read More: Technical Analysis
Traders are short
On Wednesday, Dukascopy traders were shorting the pair, as 70% of all open position volume was in short positions.
Meanwhile, pending trader set up orders were set to sell. Namely, in the 100-point range around the pair 65% of orders were to sell and 35% were to buy.
On Friday, the open positons were 68% short and pending orders were 55% to sell.