On Friday morning, the EUR/USD traded with an increased volatility. The volatility was caused by the publication of European PMIs. They showed mixed results, as they were being published over a period of an hour.
In general, good news from France caused a surge, which were followed by mixed German results and lower than forecast results of the combined Euro Zone indices.Economic Calendar Analysis
EUR/USD hourly chart's review
On Friday morning, the described volatility occurred between the 1.1088 and 1.1048 levels. During that time the rate ignored the resistance of the 55 and 100-hour SMAs. In the meantime, the 200-hour simple moving average managed to provide support to a decline.Hourly Chart
Since Thursday, on the Swiss Foreign Exchange 70% of open EUR/USD position volume was in short positions.
Meanwhile, pending trade orders were neutral, as 50% of orders in the 100-pip range were to sell and 50% were to buy.
Previously, the orders were 57% short.