Economic Calendar Analysis
This week, on Tuesday the release of the US CB Consumer Confidence and JOLTS Job Openings data at 14:00 GMT might impact the financial markets through the value of the US Dollar.
On Thursday, at 14:00 GMT, the US ISM Manufacturing Purchasing Managers Index could cause a market adjustment.
The top event of the week is scheduled for Friday, at 12:30 GMT. At that time, the US Unemployment Rate, Non-farm Employment Change and the Average Hourly Earnings are set to be published.
EUR/USD hourly chart
If the pair declines below 0.9900, the weekly S1 simple pivot point at 0.9878 might slow down a decline. Further below, the 0.9850 level could act as support, before the rate reached the combination of the 0.9800 mark and the weekly S2 simple pivot point.On the other hand, a recovery of the Euro against the US Dollar could encounter resistance in the 0.9950 level, the 50 and 100-hour simple moving averages near 0.9970, the weekly simple pivot point at 0.9984. Only after breaching all these levels, the pair would approach the 1.0000 mark and the 200-hour SMA near 1.0020.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the decline of the EUR/USD has passed the July low level. Further below, the currency rate might look for support in the lower trend line of the channel down pattern.Daily chart
Read More: Technical Analysis
Traders are mostly long
On Monday, on the Swiss Foreign Exchange, trader open positions were bullish, as 71% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 64% to sell the Euro against the USD.