In the meantime, note that the support of the 55 and 100-hour simple moving averages had failed to push the rate up.
Economic Calendar Analysis
The week will end with a monthly data release. The US Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate are scheduled for 12:30 GMT. The event has caused moves from 19.4 to 51.8 pips on the EUR/USD charts.
During next week, pay attention to the economic data releases already on Monday. On Monday, at 14:00 GMT the Institute of Supply Management will publish the Non-Manufacturing Purchasing Managers Index results. EUR/USD has moved 10.4 to 26.5 pips on the event.
On Wednesday, note that some calendars show the FOMC Meeting Minutes at 18:00 GMT. This is a publication of the minutes without a rate statement. In the past, this event has not caused sharp moves, as the Meeting Minute impact comes on gradually while the markets read and analyse.
On Thursday, as always the US Unemployment Claims at 12:30 GMT might cause a minor move.
Click on the link below to find out more about the data releases.
EUR/USD hourly chart's review
On Friday morning, the rate was finding support in the 200-hour simple moving average and resistance in the 1.1740 mark. The rate ignored the technical levels at 1.1700 and the 55 and 100-hour simple moving averages.In general, the rate was expected to trade sideways until new fundamental information pushes it up or down. Namely, it was possible that a Friday US trading hour Donald Trump covid comment could strengthen or weaken the US Dollar.
Hourly Chart
On the daily candle chart, the rate was located below the resistance of the 55-day SMA at 1.1780. In addition, the rate could find resistance in the upper trend line of the channel down pattern, which captures the rate's September decline.
Daily chart
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Traders remain neutral
Since Wednesday, on the Swiss Foreign Exchange trader open position volume was neutral, as 52% of open position volume was short.
The sentiment was 54% short on Friday.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to sell the pair.
Previously, the orders were 74% to sell.