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 Euro continues to decline against the US Dollar, the pair might find support in the weekly S1 simple pivot point at 1.0939, before approaching the March low levels at 1.0902/1.0905 and the 1.0900 mark.On the other hand, a surge of the currency exchange rate might encounter resistance in the 50-hour simple moving average at 1.0990, before approaching the 1.1000 mark. Note that the 1.1000 level is being strengthened by the 100-hour simple moving average and the weekly simple pivot point. Higher above, note the 200-hour simple moving average near 1.1020.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has once again bounced off the March high, February and January low level zone above 1.1100.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 Friday, the sentiment was 63% long and pending orders were 59% to sell.