Economic Calendar Analysis
There will be one notable event during the week. On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT is set to impact the value of the US Dollar.
Note that at the same time, the weekly US Unemployment Claims will be published.
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
In the case that the rate ends its sideways trading by surging, the EUR/USD could immediately encounter resistance in the form of the 1.1500 mark. Higher above, the most close by technical resistance was the weekly R1 simple pivot point at 1.1578.However, a decline below the 1.1412/1.1416 zone might look for support in the weekly simple pivot point at 1.1358 and the 100-hour simple moving average near 1.1360. Below these levels, the 1.1300 mark might act as support.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has passed above the resistance of the 100-day simple moving average. Meanwhile, the EUR/USD has pierced the 50.00% Fibonacci retracement level at the 1.1454 level.Daily chart
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Long sentiment is gone
On Monday, on the Swiss Foreign Exchange trader open positions were short, as 51% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 55% to sell the Euro against the USD.