Economic Calendar Analysis
On Thursday, a minor USD move could occur due to the weekly US Unemployment claims release at 13:30 GMT. The rate has moved from 4.2 to 28.9 pips on the release since November 4.
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. The CPI has caused moves from 19.2 to 45.3 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 EUR/USD continues to decline, it would aim at the support of the weekly S1 simple pivot point at 1.1242 and the November 30 low level at 1.1235. In addition, note that the lower trend line of a channel down pattern passes the two mentioned levels.On the other hand, a recovery of the currency exchange rate might find resistance in the combination of the 50 and 200-hour simple moving average at 1.1290. Above the SMAs, the 1.1300 mark, the 100-hour SMA and the upper trend line of the channel pattern might provide notable resistance.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD 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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Buy order amount increases
Since Monday, on the Swiss Foreign Exchange trader open positions were long, as 65% of open position volume was in long positions.
Meanwhile, on Tuesday, trader set up pending orders in the 100-pip range around the pair were 64% to buy the Euro against the USD.
On Monday, the orders were 57% to buy.