Economic Calendar Analysis
On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy.
On Thursday, The US Preliminary GDP and Unemployment Claims releases at 12:30 GMT are highly likely going to impact the USD.
On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar.
EUR/USD hourly chart
A move above the simple moving averages and the 1.0800 mark is expected to approach the 1.0820 level. Above 1.0820 resistance is provided by the weekly simple pivot point at 1.0822, the 1.0825/1.0830 zone and the 200-hour simple moving average. Even higher, take into account the weekly R1 simple pivot point at 1.0884.However, a decline of the Euro against the US Dollar is set to look for support at 1.0760. Below this level take into account the weekly S1 simple pivot point at 1.0740, the 1.0700 mark and weekly S2 1.0678.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has passed below the 100-day simple moving average. Most recently, the pair retraced back up to the SMA to possibly confirm it as resistance.A continuation of the decline could look for support in the zone near 1.0750. Further below, note the 200-day simple moving average near 1.0600.
Daily chart
Read More: Technical Analysis
Traders are slightly long
On Wednesday, trader open positions were long, as 55% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 54% to sell the Euro against the USD.
At mid-Tuesday, traders were 54% long and orders were 56% to buy.