Economic Calendar Analysis
This week, notable events are over. Next week's review is scheduled to be published on Monday.
EUR/USD hourly chart's review
In the case that the Euro surges against the US Dollar, the pair would have to pass the resistance of the 50-hour simple moving average and the 1.0520 level. Higher above, note the Tuesday's high levels at 1.0550/1.0560 and the weekly R1 simple pivot point at 1.0553. A move above 1.0560 would almost immediately encounter more resistance in the May high level zones at 1.0570/1.0600 and 1.0630/1.0640.On the other hand, a decline below the 1.0460 level and the 100-hour simple moving average might find support in the 1.0450 mark and the weekly simple pivot point at 1.0451. Below these levels, the 1.0400 mark could act as support, before the May low level at 1.0350 is reached.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has bounced off the support zone of the 2017 low levels. Meanwhile, the lower trend line of the 2022 channel down pattern's lower trend line was pierced.Daily chart
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Traders remain long with pending sell orders
On Wednesday, on the Swiss Foreign Exchange trader open positions were bullish, as 68% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to sell the Euro against the USD.
On Thursday, open positions were 69% long and pending orders were 60% to sell.