Economic Calendar Analysis
At 18:00 GMT on Wednesday, the US Federal Reserve Meeting Minutes are bound to be published. The details included in the document might be the reason for a USD move.
EUR/USD hourly chart
In the meantime, on Wednesday it was spotted that the pair had revealed a resistance zone at 1.0185/1.095. If the pair reaches above the zone, the 1.0200 mark might immediately act as resistance. Higher above, note the combination of the 100 and 200-hour simple moving averages near 1.0220.On the other hand, a decline of the currency pair could once again find support in the 1.0123 level, prior to approaching the 1.0100 mark and the late July low level at 1.0097.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the currency exchange rate has reached the combined resistance of the upper trend line of the 2022 channel down pattern and the 1.0350/1.0400 zone.In the near term future, the pair is expected to resume its decline and possibly even reaching the 1.0000 mark.
Daily chart
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Traders are long
Prior to the FOMC Meeting Minutes, on the Swiss Foreign Exchange, trader open positions were bullish, as 61% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 51% to buy the Euro against the USD.