Economic Calendar Analysis
This week note the US ISM Manufacturing PMI on Thursday at 14:00 GMT.
On Friday, the US Employment data sets are bound to impact the value of the USD at 12:30 GMT.
EUR/USD hourly chart's review
In the case that the rate passes the resistance of the 200-hour simple moving average near 1.1940, the pair would most likely extend the surge. An extension of the surge would most likely test the last week's high levels in the 1.1970/1.1975 zone. If the resistance zone would be passed, the rate could find resistance in the weekly simple pivot point at 1.1994 and the 1.2000 mark.On the other hand, a potential decline would have to pass the support of the 1.1920 level. Afterwards, the rate could aim at the support of the 1.1900 mark.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the 1.1850 level managed to provide support to the currency exchange rate on June 18.In the near term future, the rate's surge could reach for the 1.2000 mark. However, note that the 1.2000 level's resistance was being strengthened by the 100 and 200-day simple moving averages and the 23.60% Fibonacci retracement level.
Daily chart
Read More: Technical Analysis
Traders are long
On Monday, on the Swiss Foreign Exchange trader open positions were long, as 54% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 59% to sell the pair.