Economic Calendar Analysis
There are nine sets of data being released this week, which might cause an impact on currency valuations. Five of the nine are US employment datasets.
The week's notable publications will start on Wednesday at 13:15 GMT, as the ADP Non-Farm Employment Change is set to be published.
Also on Wednesday, at 13:30 GMT, the US Final GDP might cause minor USD moves.
On Thursday, at 13:30 GMT, minor US Dollar moves could occur due to the publication of the weekly US Unemployment Claims.
The top event of the week will occur on Friday, as at 13:30 GMT the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to be published.
The week's events are scheduled to end at 15:00 GMT with the publication of the US Institute for Supply Management Manufacturing Purchasing Managers Index survey results.
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
If the pair bounces off the high level zone, the rate might look for support in the 1.1100 mark, before approaching the weekly R1 simple pivot point at 1.1048 and the 1.1050 mark. Further below, note the major cluster of technical levels at 1.0990/1.1020.On the other hand, a surge above the March high level could encounter resistance at 1.1150 and the weekly R3 simple pivot point at 1.1157. Higher above, note the 1.1200 and 1.1250 levels.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, a third test of the resistance of the 2022 January and February low level and the March high level zone at 1.1105/1.1135 is ongoing.Daily chart
Read More: Technical Analysis
Traders remain long
On Monday, on the Swiss Foreign Exchange trader open positions were long, as 65% 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 sell the Euro against the USD.
On Tuesday, the sentiment was 63% long and pending orders were 62% to sell.