On Thursday, the EUR/USD failed to pass the resistance of the weekly R2. It was the third failed attempt. The failed attempt was followed by a decline.
On Friday, after the decline, the rate was located below the combined resistance of the 55 and 100-hour simple moving averages and the 38.20% Fibonacci retracement level at 1.1200.
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EUR/USD hourly chart's review
On Friday, the EUR/USD declined below the resistance cluster of the 55, 100- hour simple moving averages and a 38.20% Fibonacci retracement level at the 1.1200 level.Hourly Chart
Since the middle of Wednesday's London trading session traders were short, as 71% of open EUR/USD position volume on the Swiss Foreign Exchange was in short positions.
The sentiment slightly changed on Friday, as it became 70% short.
Meanwhile, trader set up pending orders in 100-pip range around the pair were slightly bullish, as 54% of all orders were set to buy and 46% were to sell.