EUR/USD reaches above 1.1300

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The EUR/USD broke out of the previous trading range to the upside. The surge ended at the 1.1340 mark, which served as resistance. By the middle of Thursday's trading, the pair had retreated and had almost reached the 1.1300 mark.

Economic Calendar Analysis



On Thursday, at 13:30 GMT the US Durable Goods Orders and Core Durable Goods orders data will be published. However, during the prior months the data release has not caused increases of volatility.

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

A move below the 1.1300 mark could immediately find support in the 100 and 200-hour simple moving averages at 1.1290. Below the SMAs, the weekly simple pivot point was located at 1.1276.

Meanwhile, a recovery of the pair might find short term resistance in the weekly R1 simple pivot point at 1.1329, before reaching the 1.1340 level. If the EUR/USD surges above 1.1340, most likely resistance could be provided by the 1.1360 December high level zone.

Hourly Chart

EUR/USD daily chart's review

On the daily candle chart, the EUR/USD has been going nowhere during the whole of December, as the rate appears to be bouncing around the 1.1300 mark.

Daily chart




Traders are long

On Wednesday, on the Swiss Foreign Exchange trader open positions were long, as 62% of open position volume was in long positions.

Meanwhile, trader set up pending orders in the 100-pip range around the pair were 58% to sell the Euro against the USD.

On Thursday, 60% of volume was long and the orders were 61% to sell.

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