Economic Calendar Analysis
This week, there are no notable pre-scheduled events that might impact the currency exchange rate.
Some financial news outlets note the upcoming "speech" of Jerome Powell on Thursday at 19:00 GMT. However, the head of the central bank is set to participate in a panel discussion at a research conference not give a speech. It is not normal for the head of the Fed to make notable comments at such minor events.
EUR/USD hourly chart analysis
A broader move below 1.0665 could result in the rate looking for support in the 200-hour simple moving average near 1.0635. Further below take into account the notable 1.0600 mark and the range that surrounds it.On the other hand, a recovery of the Euro against the US Dollar is bound to face potential resistance in the 100-hour simple moving average near 1.0685, the 1.0700 mark and the 50-hour simple moving average near it. Higher, the 1.0745/1.0755 range is set to act as resistance.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has broken the resistance zone at 1.0635/1.0695 and the 50-day simple moving average. In the near term future, the pair could look for support in the zone.Daily chart
Read More: Technical Analysis
Traders are short
This week, the Swiss Foreign Exchange traders were 54% in short positions.
Meanwhile, trader set up pending orders in a 100-point range around the current rate were 52% to sell the Euro against the US Dollar.