Economic Calendar Analysis
This week, all attention will be paid to the US Federal Reserve Rate Statement on Wednesday at 18:00 GMT. It is set to set the tone for the rest of the central banks and the global economy.
In addition, note that on Thursday, the markets will be watching the US Advance quarterly Gross Domestic Product data at 12:30 GMT.
EUR/USD hourly chart's review
If the Euro manages to surge against the US Dollar above the 1.0250 mark, the 1.0270/1.0280 zone might stop a potential surge, before the weekly R1 simple pivot point at 1.0301 and the 1.0300 mark are reached.On the other hand, a decline of the pair below the 50 and 100-hour simple moving averages near 1.0210, the 1.0200 mark and the weekly simple pivot point at 1.0190 might look for support in the combination of the 200-hour SMA near 1.0160 and the 1.0150 level.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has found support in the lower trend line of the large scale channel down pattern, which has guided the rate down throughout 2022. In theory, the currency pair should recover until it encounters resistance. Resistance might be found in the previous low level zone at 1.0350/1.0400.Daily chart
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Traders are long on EUR/USD
On Tuesday, on the Swiss Foreign Exchange, trader open positions were bullish, as 62% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to buy the Euro against the USD.