By the start of Friday's US trading session, the rate fluctuated near 1.1330. Meanwhile, the support of the 50-hour simple moving averages was approaching near 1.1305.
On December 16, the European Central Bank published its monetary policy decisions. The central bank kept its interest rates unchanged. However, the bank would reduce asset purchases of the pandemic emergency purchase programme.
Economic Calendar Analysis
On Wednesday, at 13:30 GMT, the US Dollar might react to the publication of the US Final GDP. Although, the only release for more than a year, which caused a noteworthy move was the latest one, September 30 2021.
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
In the case that the rate is pushed up by the 50-hour SMA, the EUR/USD might test the resistance of the 1.1355/1.1360 zone. Higher above, note the weekly R1 simple pivot point at 1.1373.On the other hand, the pair might decline to the weekly simple pivot point at 1.1300. Note that the 1.1300 could soon be strengthened by the 100 and 200-hour simple moving averages.
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
Read More: Technical Analysis
Long sentiment decreases
Since Thursday, on the Swiss Foreign Exchange trader open positions were long, as 61% of open position volume was in long positions.
Meanwhile, on Friday, trader set up pending orders in the 100-pip range around the pair were 62% to sell the Euro against the USD.
The orders were 74% to sell on Thursday.