Economic Calendar Analysis
This week, the US Retail Sales data release might impact the financial markets through the value of the US Dollar. The data is scheduled to be published on Wednesday at 13:30 GMT.
EUR/USD hourly chart
The surge of the Euro against the US Dollar could encounter resistance in the 1.0450 and 1.0500 levels, before reaching the weekly R1 simple pivot point at 1.0512. Higher above, note the 1.0550 and 1.0600 levels.On the other hand, a decline of the pair would look for support not only at 1.0350 and the 50-hour SMA, but also the combination of the 100-hour SMA and the 1.0300 level.
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
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Traders are almost neutral
On Wednesday, on the Swiss Foreign Exchange, trader open positions were neutral, as 51% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 58% to buy the Euro against the USD.