However, it has been spotted that the EUR/USD is encountering resistance in the 200-hour simple moving average. Meanwhile, the 1.0900 was acting as support during the early hours of Monday's trading.
Economic Calendar Analysis
This week, the pair could react to the release of US Durable Goods Orders on Tuesday at 12:30 GMT.
On Thursday, the US Gross Domestic Product release is highly likely going to impact the financial markets via an adjustment of the USD value.
On Friday, at 12:30 GMT, the US Core PCE Price Index is set to impact the US Dollar.
EUR/USD hourly chart
A move above the 200-hour simple moving average and the weekly simple pivot point at 1.0916 could almost immediately be stopped by the 50 and 100-hour simple moving average. Higher above, note the weekly R1 simple pivot point 1.0987.On the other hand, a decline below 1.0900 might look for support in the 1.0880 and 1.0850 levels. These levels have acted as support on Friday. Further below, take into account the weekly S1 simple pivot point at 1.0819.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has been ignoring the support and resistance zone at 1.0910/1.0940. Meanwhile, the rate appears to have also ignored the 50-day simple moving average near 1.0865.Daily chart
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Traders are short
On Monday, trader open positions were bearish, as 57% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to sell the Euro against the USD.