Economic Calendar Analysis
On Friday, the value of the US Dollar is most likely going to adjust to the publication of the US Consumer Price Index and Core Consumer Price Index changes at 13:30 GMT. The CPI has caused moves from 19.2 to 45.3 pips.
Click on the link below to find out more about data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
A continuation of the decline might find support in the weekly S1 simple pivot point at 1.1242 and the support zone of the low levels at 1.1228/1.1236. Further below, note the November low level at 1.1186.On the other hand, a potential recovery might find resistance in the weekly simple pivot point at 1.1313 and the hourly simple moving averages in the 1.1295/1.1310 range.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD pair found support in the 38.20% Fibonacci retracement level at 1.1200. Meanwhile, note that a recovery of the rate could find additional resistance at the 1.1454 level, where the 50.00% Fibonacci retracement level is located at.Daily chart
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Traders are long
On Friday, on the Swiss Foreign Exchange trader open positions were long, as 65% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 64% to buy the Euro against the USD.