Economic Calendar Analysis
The Euro's value might adjust to the Wednesday's publication of the European Services and Manufacturing Purchasing Managers Indices in the span from 08:15 up to 09:00 GMT.
On Wednesday, at 13:30 GMT, the financial markets might react to the US Durable Goods Orders and Unemployment Claims publication.
Later on, at 14:45 GMT, the Markit Services and Manufacturing Purchasing Managers Indices for the US could cause an adjustment of the US Dollar's value.
The day and the week's notable events will end with the release of the US Federal Reserve FOMC Meeting Minutes at 19:00 GMT. The Meeting Minutes are the protocol of the last US Fed meeting. New details might be in the file.
EUR/USD hourly chart
An extension of the ongoing decline might look for support in the 1.0200 mark and the combination of the 1.0150 level and the weekly S2 simple pivot point. Note that round levels have been impacting the pair throughout November.On the other hand, a recovery could face resistance in the 200-hour SMA at 1.0280, the 1.0300 mark and the approaching 50-hour SMA near 1.0325. Higher above, take into account the 1.0350 mark, which is strengthened by the 100-hour SMA and the weekly simple pivot point at 1.0359.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has reached above the 1.0350/1.0400 zone, which has acted as support and resistance throughout 2021 and 2022. In the meantime, the 200-day simple moving average has recently acted as support.Daily chart
Read More: Technical Analysis
Traders are neutral
On Monday, on the Swiss Foreign Exchange, trader open positions were neutral, as 50% of open position volume was in long and short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 51% to sell the Euro against the USD.