Economic Calendar Analysis
The US Presidential Election and the Congressional elections takes place on Tuesday. These events will guide the financial markets.
On Thursday, watch the US Federal Reserve Federal Funds Rate announcement. The Fed is expected to cut rates by 0.25%.
EUR/USD hourly chart analysis
In the case of an EUR/USD surge, the 1.1000 mark is expected to act as resistance, as the round level has major psychological impact.On the other hand, a decline might be slowed down by the 1.0830 level, before the pair approaches the low level range near 1.0760.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate is reversing its prior decline. Moreover, the EUR/USD has passed above the 200-day simple moving average.Daily chart
Read More: Technical Analysis
Traders are long on the pair
On Monday, 58% were in bullish positions. Traders are expecting a recovery of the pair.
Meanwhile, trader pending orders in the 100-pip range around the current rate are set to sell.
Namely, 67% of orders in that range are sell orders.