Economic Calendar Analysis
On Monday, a slight move on all USD assets could be caused by the US Durable Goods Orders and Core Durable Goods Orders release at 12:30 GMT.
On Thursday, at the same time as the US GDP, the US weekly Unemployment Claims could also impact the USD.
On Friday, at 14:00 GMT a notable move could be created by the US ISM Manufacturing PMI results.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
In the case of the pair continuing to decline, it could find support in the 55 and 100-hour simple moving averages at 1.1725. Below these levels, the 1.1700 mark and the 61.80% Fibonacci retracement level could provide support.On the other hand, a potential surge would test the 1.1750 level and the 200-hour simple moving average near 1.1755. Above these levels, the weekly simple pivot point provides resistance at 1.1766.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, EUR/USD has reached the support of the 1.1700 mark, which is strengthened by a 61.80% Fibonacci retracement level.A passing of the support of the 1.1700 mark could result in the test of the support of the 2020 low levels near 1.1600. On the other hand, a recovery might find resistance in the 55-day simple moving average near 1.1800.
Daily chart
Read More: Technical Analysis
Long sentiment declines
On Friday, on the Swiss Foreign Exchange trader open positions were bullish, as 62% of open position volume was in long positions.
On Thursday, 65% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 52% to sell the currency exchange rate.