Economic Calendar Analysis
Next week, the Euro's value might adjust to the Wednesday's publication of the European Services and Manufacturing Purchasing Managers Indices in the span from 08:15 up to 09:00 GMT.
On Wednesday, at 13:30 GMT, the financial markets might react to the US Durable Goods Orders and Unemployment Claims publication.
Later on, at 14:45 GMT, the Markit Services and Manufacturing Purchasing Managers Indices for the US could cause an adjustment of the US Dollar's value.
The day and the week's notable events will end with the release of the US Federal Reserve FOMC Meeting Minutes at 19:00 GMT. The Meeting Minutes are the protocol of the last US Fed meeting. New details might be in the file.
EUR/USD hourly chart
The surge of the Euro against the US Dollar could encounter resistance in the 1.0450 and 1.0500 levels, before reaching the weekly R1 simple pivot point at 1.0512. Higher above, note the 1.0550 and 1.0600 levels.On the other hand, a decline of the pair would look for support not only at 1.0350 and the 50 and 100-hour SMAs, but also the 1.0300 level
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has reached above the 1.0350/1.0400 zone, which has acted as support and resistance throughout 2021 and 2022. In the meantime, the 200-day simple moving average has recently acted as support.Daily chart
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Traders are almost neutral
On Wednesday, on the Swiss Foreign Exchange, trader open positions were neutral, 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 58% to buy the Euro against the USD.
On Thursday, open positions were 53% short and pending orders were 50% to buy and sell.