Economic Calendar Analysis
This week the top event will be the US Federal Reserve Announcements on Wednesday at 19:00 GMT. High volatility can be expected from the event.
EUR/USD hourly chart's review
In the near term future, the pair could make an attempt to pass the 1.1260 zone. A move below the 1.1260 could aim at the December low level zone and the weekly S2 simple pivot point at 1.1227/1.1236.On the other hand, a potential recovery of the rate could find resistance in the previous January low levels and the weekly S1 simple pivot point at 1.1286.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, despite breaking the resistance of the channel down pattern that was caused by the US CPI release, the rate has declined. Since the event, the rate has returned to trade below 1.1300, as the markets expect US Fed rate hikes.Daily chart
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Traders are long
On Tuesday, on the Swiss Foreign Exchange trader open positions were long, as 58% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 71% to buy the Euro against the USD.