Economic Calendar Analysis
On Friday, the German Preliminary GDP could cause EUR moves. The EUR/USD has from 10.0 to 14.1 pips during the last three releases since July 2020.
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
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, buyers could pressure the EUR/USD exchange rate higher during this session.However, the resistance line at 1.2149 could still provide resistance for the currency exchange rate in the shorter term.
Hourly Chart
EUR/USD daily chart's review
The EUR/USD currency exchange rate has been continuing to trade above the 100-day simple moving average since the start of this week, breaking the resistance level at 1.2128 on Thursday.On the daily candle chart, look at the round exchange rate levels, which could impact the rate by providing both support and resistance. In adittion, take a look at the February high spike and the high level of 2021 January. These levels are at respectively, 1.2240 and 1.2350.
Daily chart
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Traders set up buy orders
Since Wednesday, on the Swiss Foreign Exchange trader open positions have been short, as 62% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 68% to buy the pair on Friday.
On Thursday, the orders were 56% to sell the pair.