Economic Calendar Analysis
On Tuesday, the US ISM Services Purchasing Managers Index survey results are expected to impact the value of the US Dollar and all pairs that include the USD.
During the week, almost all attention will be paid to the US Federal Reserve Federal Open Market Committee Meeting Minutes on Wednesday at 19:00 GMT.
The meeting minutes are a protocol of the central bank's committee, which decides US and, subsequently, global monetary policy. The document is set to reveal, what the committee talked about and detailed information about their future plans.
On Thursday, a minor USD move might be created by the publication of the weekly US Unemployment Claims data at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
Below the 1.1050 level, the 200-hour simple moving average at 1.1035 could act as support, before the EUR/USD reaches the 1.1000 mark and the weekly simple pivot point at 1.1004.On the other hand, if the Euro recovers and EUR/USD would face the 100-hour simple moving average at 1.1080. An appreciation further of the Euro's value against the US Dollar would face resistance at the 1.1100 mark, the weekly R2 simple pivot point at 1.1114, the 50-hour simple moving average near 1.1110 and the weekly R3 simple pivot point at 1.1157.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has succeeded on its third attempt at passing the zone of the January and February low levels and March high levels. However, the pair has encountered resistance in the 50-day simple moving average.Higher above, note the 38.20% Fibonacci retracement level at 1.1200 and the 100-day simple moving average at 1.1240.
Daily chart
Read More: Technical Analysis
Traders set up buy orders
On Friday, on the Swiss Foreign Exchange trader open positions were long, as 59% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 56% to buy the Euro against the USD.
On Thursday, the sentiment was 58% long and pending orders were 53% to sell.