Economic Calendar Analysis
On Friday, watch out for the US employment data release. The release is bound to impact the financial markets through the value of the US Dollar. The publication is set to consist of the Non-Farm Employment Change, Average Hourly Earnings and Unemployment Rate.
EUR/USD hourly chart analysis
A surge of the Euro against the US Dollar would have to pass the 1.0800/1.0805 range and the descending 100-hour simple moving average. Above these levels, note the 200-hour simple moving average near 1.0880 and the weekly simple pivot point at 1.0908.In the case of a decline of the currency rate below 1.0760, the weekly S2 simple pivot point could act as support at 1.0720, before the 1.0700 mark would be reached.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has suddenly pierced below the support of the 200-day simple moving average. The indicator managed to hold throughout most of November. Next target for the decline could be the combination of the 50 and 100-day SMAs near 1.0700/1.0720.Daily chart
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Traders are neutral
On Wednesday, the Swiss Foreign Exchange traders were 52% in short positions.
Meanwhile, trader set up pending orders in a 100-point range around the current rate were 54% to sell the Euro against the US Dollar.
On Thursday, 51% of traders were short and pending orders were 54% to sell.