Economic Calendar Analysis
On Friday, US statisticians will publish their monthly employment data sets at 12:30 GMT. The event has moved EUR/USD from 21.7 to 50.1 pips since June 2021.
Next week, on Tuesday, the US Producer Price Index and Core Producer Price Index at 13:30 GMT could cause minor USD volatility. The EUR/USD has moved from 8.6 to 19.2 on the release.
On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price Index will be released. In addition, the weekly US Unemployment Claims are set to be out at the same time. If the data sets combined beat or disappoint forecasts, a notable move in all USD assets might occur.
The CPI has caused moves from 19.2 to 45.3 pips since June. Meanwhile, the Unemployment Claims have created moves from 4.2 to 16.7 base points.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
In the case that the rate passes the October low levels at 1.1525/1.1538, the pair could look for support in the 1.1500 mark. In addition, note the weekly S1 simple pivot point's support at 1.1501. Meanwhile, below the 1.1500 mark, a 50.00% Fibonacci retracement level could act as support near 1.1450.However, a recovery from the October low level zone might encounter resistance in the 50, 100 and 200-hour simple moving averages at 1.1570, 1.1580, and 1.1595. Moreover, the weekly simple pivot point acts as a resistance level at 1.1597.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD started the decline before reaching the combined resistance of the 55-day simple moving average, the 61.80% Fibonacci retracement level and the 1.1700 mark. In regards to support levels on this chart, note the 50.00% Fibonacci retracement level at 1.1454.Daily chart
Read More: Technical Analysis
Long sentiment increases
On Friday, on the Swiss Foreign Exchange trader open positions were long, as 60% of open position volume was in long positions.
On Thursday, 57% of volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 65% to buy the Euro against the USD.