Economic Calendar Analysis
On June 1, watch the US ISM Manufacturing Purchasing Managers Index release at 14:00 GMT.
On June 2, the United States are scheduled to publish the monthly employment data sets. At 12:30 GMT, the Bureau of Labour Statistics will release the Average Hourly Earnings, Non-farm Employment Change and Unemployment Rate numbers.
On Monday, June 5, the US ISM Services PMI is set to be published and impact the markets though the USD value.
EUR/USD hourly chart
An extension of the ongoing decline might be slowed down by round exchange rate levels, as it has been spotted that round levels manage to impact the rate. In the meantime, note that weekly simple pivot points have also shown to be capable to impact the pair.On the other hand, a potential recovery of the Euro against the US Dollar could face resistance in the 1.0700 mark and the declining hourly simple moving averages.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has passed below another support level. It has reached below the 1.0750 level and the zone that surrounds it. However, the passing has not resulted in a broader decline. Most recently, it was observed that the rate's potential recovery was finding resistance in the zone.A continuation of the May decline could look for support in the 200-day simple moving average and the 1.0600 mark. Further below, note the March low level zone at 1.0515/1.0535.
Daily chart
Read More: Technical Analysis
Traders are long
On May 31st, trader open positions were long, as 66% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 54% to sell the Euro against the USD.