Economic Calendar Analysis
Notable events for this week have ended. Expect an update to the calendar section with the next week's event reviews soon.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
All things being equal, the US Dollar is likely to continue to gain strength against the Eurozone currency. The possible target for bullish traders could be near the 1.2150 area.However, the weekly support level at 1.2184 could provide support for the currency exchange rate in the shorter term.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has reached the February high just below the 1.2250 level. If this level gets passed, the 2021 high near 1.2350 could be targeted.In the meantime, the rate remains in a channel up pattern, which has guided the rate up since the start of April.
Daily chart
Read More: Technical Analysis
Buy orders increase
On Friday, on the Swiss Foreign Exchange trader open positions were short, as 63% of open position volume was in short positions. Previously, the positions were 64% short.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 67% to buy the pair.
On Thursday, 62% of pending orders was bullish.