Economic Calendar Analysis
At 13:45 GMT, the US Flash Services PMIs could impact the rate through an adjustment in the value of the US Dollar.
On Thursday, at 12:30 GMT the US quarterly Preliminary GDP data is set to cause a move in the US Dollar and all of financial markets.
EUR/USD hourly chart
A move below the 0.9900 mark is expected to look for support in the weekly S2 simple pivot point at 0.9874. Further below, note the 0.9850 and 0.9800 levels.On the other hand, a recovery of the Euro against the US Dollar is set to encounter resistance in the 0.9950 mark and the weekly S1 simple pivot point at 0.9954. Higher above, the 1.0000 mark and the 50-hour simple moving average.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the decline of the EUR/USD has passed the July low level. Further below, the currency rate might look for support in the lower trend line of the channel down pattern.Daily chart
Read More: Technical Analysis
Long sentiment increases
On Tuesday, on the Swiss Foreign Exchange, trader open positions were bullish, as 72% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 61% to sell the Euro against the USD.
On Monday, 70% of open positions were long and pending orders were 57% to sell.