Meanwhile, it was spotted that pending orders in the 100-base point range were 60% to buy on Friday. The orders were 59% to sell on Thursday.
Economic Calendar Analysis
This week, the main event will be the release of the US employment data on Friday at 13:30 GMT. The release will consists of the publication of the Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate.
The rate has moved from 21.7 to 50.1 pips on the employment release.
In addition, take into account the US ISM Services PMI survey results on Friday at 15:00 GMT. This event has caused EUR/USD moves from 6.6 to 32.2 base points.
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 breaks the resistance of the 50 and 100-hour simple moving averages at 1.1315, a potential decline could test this week's high levels at 1.1350, 1.1360 and 1.1380.On the other hand, a decline might find support at the weekly simple pivot point at 1.1282 and the 200-hour simple moving average near 1.1280. Below these levels, the most close by support is the weekly S1 simple pivot point at 1.1231.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has broken the channel down pattern. However, the pair found support in the 38.20% Fibonacci retracement level at 1.1200. Meanwhile, note that the continuation of the recovery of the rate could find additional resistance at the 1.1454 level, where the 50.00% Fibonacci retracement level is located at.Daily chart
Read More: Technical Analysis
Traders are long
On Friday, on the Swiss Foreign Exchange trader open positions were long, as 68% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to buy the Euro against the USD.
On Thursday, the sentiment was 66% long and the orders were 59% to sell.