Economic Calendar Analysis
This week, watch out for the US Core PCE Price Index release on Friday at 12:30 GMT. The inflation measure is bound to impact the financial markets through the value of the US Dollar.
EUR/USD hourly chart analysis
On Wednesday, June 26, the pair was heading to the support of the 1.0665/1.0670 range. A move below this range could result in the pair looking for support in the combination of the 1.0650 level and the weekly S1 simple pivot point at 1.0655. Further below, note the weekly S2 at 1.0618 and the 1.0600 mark.However, a potential recovery of the Euro against the Dollar could face the combination of the 1.0700 mark, the weekly simple pivot point at 1.0708 and the 50, 100 and 200-hour simple moving averages near 1.0720.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has dropped below the daily simple moving averages. However, support has been found in the 1.0635/1.0700 range.If the EUR/USD recovers, the 50, 100 and 200-day simple moving averages could act as resistance. On the other hand, a decline of the pair below 1.0635 and 1.0600 could result in the rate looking for support in the 1.0520/1.0535 range.
Daily chart
Dukascopy traders are bullish on the EUR/USD, as 58% of open position volume is in long positions.
Meanwhile, pending orders in the 100-pip range around the current rate are 58% to buy the Euro against the US Dollar.