Economic Calendar Analysis
On Thursday, a minor USD move could occur due to the weekly US Unemployment claims release at 13:30 GMT.
On Friday, the value of the US Dollar is most likely going to adjust to the publication of the US Consumer Price Index and Core Consumer Price Index changes at 13:30 GMT.
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
On Monday, the rate could find support in the lower trend line of the channel down pattern. Below the trend line, the weekly S1 at 1.2442 might act as support. In addition, note the 1.2435 level, which provided support during the November 30 high volatility that was caused by the head of the US Federal Reserve.On the other hand, a recovery of the pair might find resistance in the upper trend line of the channel pattern. Above the trend line, the weekly simple pivot point is highly likely set to provide resistance at 1.1313.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has broken the channel down pattern. However, the pair found support in the 38.20% Fibonacci retracement level at 1.1200. Meanwhile, note that the continuation of the recovery of the rate could find additional resistance at the 1.1454 level, where the 50.00% Fibonacci retracement level is located at.Daily chart
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Traders are long
On Friday, on the Swiss Foreign Exchange trader open positions were long, as 68% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to buy the Euro against the USD.
On Monday, the sentiment was 65% long and the orders were 57% to buy.