Economic Calendar Analysis
On Tuesday, at 13:30 GMT, the US Producers Price Index data will reveal, how high is the inflation at the production level.
Possibly the top event of the week will take place on Wednesday at 19:00 GMT, as the US Federal Open Markets Committee Meeting Minutes will be published. The Meeting Minutes provide an insight to the decisions of the US Federal Reserve.
On Thursday, the US Unemployment Claims could cause an adjustment of the USD value.
Click on the link below to find out more about data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
If the pair reaches above the 1.1400 level, it could encounter resistance in the 50 and 100-hour simple moving averages at 1.1420. Higher above, the EUR/USD might test the resistance of the February high levels at 1.1472/1.1496.On the other hand, a decline of the pair would need to pass the 200-hour simple moving average, which was approaching the pair from below. Below the SMA, the weekly simple pivot point at 1.1358 and the 1.1350 mark might stop the EUR/USD.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has found resistance in the 2022 high level. Moreover, on Tuesday, the pair passed below the 100-day simple moving average, which signals that a decline could occur. The most close by support on the daily candle chart was the 1.1350 mark and the 50-day simple moving average near 1.1315.Daily chart
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Traders are slightly short
On Friday, on the Swiss Foreign Exchange trader open positions were short, as 53% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 69% to buy the Euro against the USD.