Economic Calendar Analysis
On Tuesday, at 13:30 GMT, the US Retail Sales and US Core Retail Sales are bound to impact the value of the US Dollar. The EUR/USD has moved from 8.5 to 21.7 pips on the release.
On Thursday, note that a minor USD move could be caused by the weekly US Unemployment Claims. The pair has moved from 7.6 to 28.9 pips at the time of the claims.
However, on November 10, the move of 28.9 pips was caused actually by the US CPI. Without the November 10 release, the movement range is 4.2 to 16.7 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
If the pair resumes its decline and passes the support of the 1.1433/1.1437 zone, the EUR/USD might look for support in the 1.1400 level. Below the 1.1400 mark, the weekly S1 simple pivot point at 1.1384 might stop a decline.On the other hand, a passing of the resistance zone at 1.1456/1.1464 might result in the rate testing the resistance of the weekly simple pivot point at 1.1497, the 100-hour SMA at 1.1498 and the 1.1500 mark.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has passed the support of the 50.00% Fibonacci retracement level. The drop was being expected since the end of October.In regards to the future, a passing of the retracement level has left the rate with no technical support as low as the 1.1300 mark, where the lower trend line of the large scale channel down pattern is located at.
Daily chart
Read More: Technical Analysis
Traders are long
Since Friday, on the Swiss Foreign Exchange trader open positions were long, as 69% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 65% to buy the Euro against the USD.