Economic Calendar Analysis
The week's notable macroeconomic events will start with a major and busy day. That day will be Wednesday.
On Wednesday, starting from 07:15 GMT up to 08:00 GMT, the EUR most likely will react to the publication of the French, German and common Eurozone Markit Manufacturing and Services Purchasing Managers Indices.
At 13:45 GMT, on the same day, Markit is set to publish the US Manufacturing and Services PMIs.
On Thursday, the US Final quarterly GDP and weekly Unemployment Claims are scheduled for 12:30 GMT.
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
In the case that the rate passes the support of the 1.1850 mark, it could first look for support in the 1.1800 level. Below it, the weekly S1 simple pivot point at 1.1761 could hold the rate up. If the S1 fails, the pair might aim at the 1.1700 level.On the other hand, a potential surge would first face the 100-hour SMA at 1.1935 and the weekly simple pivot point at 1.1954. Above these levels, the 200-hour SMA and the 1.2000 mark could act as resistance.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate passed the support of the 55, 100 and 200-day simple moving averages. Moreover, the prior channel down pattern was broken.Moreover, it can be spotted on the daily candle chart that in March the rate found support in the 1.1850 and the 1.1700 levels.
Daily chart
Read More: Technical Analysis
Traders are long
On Tuesday, on the Swiss Foreign Exchange trader open positions were long, as 55% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 57% to sell the pair.