EUR/USD trades below 1.1000

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The EUR/USD has been ignoring the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point, as it has been highly volatile between the 1.0940 mark and the resistance of the 1.0982/1.0984 range. On Thursday afternoon, the pair pierced the resistance zone.

Economic Calendar Analysis



On Friday, the US Flash Manufacturing and Services PMIs could cause an impact on the US Dollar.

EUR/USD hourly chart

An extension of the upwards move might be slowed down by the 1.1000 mark, before the high levels near 1.1070 are reached.

On the other hand, a decline of the Euro against the US Dollar could look for support in the 1.0940 and 1.0920 level, prior to reaching the 1.0910 level's support and the 1.0900 mark.

Hourly Chart

EUR/USD daily chart's review

On the daily candle chart, the pair has retraced and declined below the last year's April high. If the rate starts a broad decline, support might be found in the 55 and 100 day simple moving averages near 1.0760.

Daily chart




Traders are shorting

Since Wednesday, trader open positions were bearish, as 59% of open position volume was in short positions.

Meanwhile, trader set up pending orders in the 100-pip range around the pair were 52% to sell the Euro against the USD.

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