In the meantime, the currency exchange rate had passed the resistance of the monthly simple pivot points and the 100-hour SMA.
Economic Calendar Analysis
US Elections on Tuesday are bound to take away all attention from the macroeconomic data releases. However, there are things to note.
On the day after the US Election, on Wednesday, the US ISM Non-Manufacturing PMI will be published at 15:00 GMT.
On Thursday, expect the weekly US Unemployment Claims to cause a minor move at 13:30 GMT. Throughout October, the event has caused EUR/USD moves from 7.4 to 13.6.
Later in the day, at 19:00 GMT, the US Federal Reserve will make a Rate Statement. Namely, the bank will react to the US Election and the following market reaction. Previously, the Fed had stated that they intend to stop a market crash, if one starts due to the election results.
On Friday, the US are publishing their monthly employment statistics. Among them will be the Average Earnings, Unemployment Rate and official Non-Farm Employment Change. In general, the Average Earnings and Employment Change reveal, how much USD is used for employment.
The currency exchange rate has moved from 15.7 to 51.8 pips on the announcement since June.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
On Monday, the EUR/USD currency pair reversed north from the psychological level at 1.1620.It is likely that the exchange rate could face the resistance level—the Fibo 61.80% at 1.1707. Thus, a reversal south could occur, and the rate could re-test the predetermined psychological level.
Meanwhile, note that the currency pair could gain support from the 55-hour SMA near 1.1655. In this case the pair could trade upwards and try to exceed the 200-hour moving average near 1.1755.
Hourly Chart
On the daily candle chart, the EUR/USD currency exchange rate passed the support of the 100-day simple moving average. On Monday, the SMA provided resistance, which was also passed on Tuesday.
In the meantime, there were no close by additional support levels on the chart.
Daily chart
Read More: Technical Analysis
Traders are neutral
On Monday, on the Swiss Foreign Exchange trader open positions were neutral, as 51% of open position volume was in short positions.
On Tuesday, the sentiment was balanced. 50% were short and 50% were long.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 64% to sell the pair.
The orders were 59% to buy on Monday.