Compared to week-long trading, the New York session on Thursday began to see declining demand for the US dollar. Since the beginning of the week, the major currencies have shown continued strengthening following risky market sentiment.
It is likely that on the weekend there will be profit-taking activities by traders in previous trading positions.
Unemployment claims data in the United States (US) released yesterday at a figure still high at 870,000 also hampered the strengthening of the US dollar in weekend trading.
Developments in the US House of Representatives, Democrats working on a $ 2.2 trillion Coronavirus stimulus package are likely to be voted on next week.
On the price chart for the EUR / USD pair, the price is seen to have dropped to the latest weekly low yesterday to the level of 1.16240 which is the RBS zone (resistance become support).
However, as soon as it touched the level, the price made a rise again recording yesterday's daily high around 1.16850.
The rise to that level also tried to pass the Moving Average 50 (MA50) barrier level but still failed to show clearer signals following the horizontal movement of the price on the MA50 line until trading resumed in the Asian session this morning.
If the decline continues, the price will return to the RBS zone reached yesterday and will try to break the 1.16000 level.
Further bearish destinations are seen at the support level of 1.15000.
However, if the trend changes, the price will rise above the SBR zone (support become resistance) 1.17200 before reaching the focus level of 1.18000 again.
