The EUR/USD exchange rate has continued to decline. By the middle of Wednesday's trading, the pair had reached below the 1.1130 and continued to decline.
In the meantime, take into account that the pair did make a retracement back up during late Tuesday's GMT hours.Economic Calendar Analysis
On Wednesday, the ADP Non-Farm Employment Change is scheduled to be released at 13:15 GMT. Dukascopy analytics dropped the cover of the ADP due to it not causing increases of volatility.EUR/USD hourly chart's review
By the middle of Wednesday's London trading hours, the EUR/USD decline was heading to the support of the weekly S1 simple pivot point at 1.1112.Hourly Chart
On Wednesday, 69% of open EUR/USD position volume on the Swiss Foreign Exchange was in short positions.
On Tuesday, the sentiment decreased to 72%.
Meanwhile, most of set up pending orders were set to sell, as 73% of orders in the 100-pip range were to sell and 27% were to buy.
Previously, 76% of orders were to sell.