On Tuesday, the EUR/USD was recovering after finding support in the 1.1100 level.
The rate was about to test the resistance of a pivot point at 1.1117. If this level gets broken, the rate might surge up to the 1.1170 mark.
US Preliminary GDP on Thursday
On Thursday, at 12:30 GMT the US Preliminary GDP is scheduled to be published. The event has caused moves on EUR/USD charts from 6.4 to 11.9 pips since February.EUR/USD hourly chart's review
Yesterday, the EUR/USD currency pair declined to the support formed by the 55-, 100– and 200-hour SMAs, located circa 1.1110. During Tuesday morning, the pair was testing the given support.Hourly Chart
On Monday, on the Swiss Foreign Exchange 66% of open EUR/USD position volume was in short positions.
By the middle of Tuesday's trading, the sentiment had become 64% short.
Meanwhile, pending trade orders were neutral, as 50% of orders in 100 pips range around the current rate were to sell and 50% were to buy.