The situation on the EUR/USD charts has not changed, as the pair traded sideways since Thursday.
However, during the Friday's London trading morning hours, the 55-hour SMA approached the rate and began to provide downwards pressure. The SMA was expected to cause a decline. US ISM Non-Manufacturing PMI
The European Common Currency traded sideways against the US Dollar, following the US ISM Non-Manufacturing PMI survey results release on Tuesday at 15:00 GMT. The EUR/USD exchange currency rate lost 7 pips or 0.06% right after the release. The Euro continued trading at the 1.1148 level against the Greenback.
The Institute for Supply Management (ISM) released the US ISM Non-Manufacturing survey results data, which came out better-than-expected of 55.0 compared with the forecast of 54.5.
The Chair of the Institute for Supply Management (ISM) Non-Manufacturing Business Survey Committee Anthony Nieves commented: "According to the NMI, 11 non-manufacturing industries reported growth. The non-manufacturing sector had an uptick in growth in December. The respondents are positive about the potential resolution on tariffs. Capacity constraints have eased a bit; however, respondents continue to have difficulty with labor resources."
Economic Calendar Analysis
The week will end with the three US employment data sets being published at 13:30 GMT. Since August 2019, the EUR/USD has moved from 14.5 to 41.4 pips on the release.EUR/USD hourly chart's review
On Friday morning, the EUR/USD met with the resistance of the 55-hour simple moving average, and began a minor decline.Hourly Chart
On Thursday, 67% of open EUR/USD position volume on the Swiss Foreign Exchange was in short positions.
By the middle of Friday's trading, 66% were short.
Meanwhile, set up pending orders were to buy, as 61% of orders in the 100-pip range were to buy and 41% were to sell.
Previously, 57% of orders were to sell.