Economic Calendar Analysis
EUR/USD hourly chart's review
If the currency pair surges, it could test the resistance of the 1.1320/1.1333 zone, which provided the EUR/USD with resistance on November 19 and November 26. A passing of the zone might result in a test of the weekly R1 simple pivot point at 1.1378.On the other hand, a decline would find support in the 50-hour simple moving average at 1.1260, the 1.1250 mark and the 100-hour SMA near 1.1240. Moreover, the weekly S1 simple pivot point was located 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.Daily chart
Read More: Technical Analysis
Traders are long
On Monday, 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 50% to buy the Euro against the USD.