By the start of Tuesday's US trading hours, the pair had almost reached the weekly R1 simple pivot point at 1.1378.
Economic Calendar Analysis
EUR/USD hourly chart's review
If the pair reaches above the weekly R1 simple pivot point, the EUR/USD might find resistance in the 1.1400 mark. Higher above, the weekly R2 at 1.1429 might act as resistance.On the other hand, a potential decline might find support in the previously passed zone at 1.1320/1.1333. In addition, note that the 50-hour SMA could move into the zone.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has broken the channel down pattern. However, the pair found support in the 38.20% Fibonacci retracement level at 1.1200.Daily chart
Read More: Technical Analysis
Traders set up short orders
On Monday, on the Swiss Foreign Exchange trader open positions were long, as 68% of open position volume was in long positions.
On Tuesday, the sentiment was 65% long.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 81% to sell the Euro against the USD.