Economic Calendar Analysis
On Wednesday, the US ISM Services PMI at 14:00 GMT might impact the pair through the value of the US Dollar.
On Friday, one of the top events of the month will take place. At 12:30 GMT, the US employment data sets are scheduled to be released. The release will consist of the US Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate.
EUR/USD hourly chart
In the case of the Euro resuming its recovery against the US Dollar, the pair might encounter resistance in the 1.0240 and 1.0260 levels, prior to once again testing the weekly R1 simple pivot point at 1.0290 and the 1.0300 mark.However, a potential decline below 1.0220 could look for support in the 1.0200 mark and the 100 and 200-hour simple moving averages that are strengthening the round exchange rate level. Further below, note the weekly simple pivot point at 1.0193.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the currency exchange rate appears to be heading to the zone, which captures the 2022 and previous low levels at 1.0350/1.0400.Daily chart
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Traders are long on EUR/USD
On Monday, on the Swiss Foreign Exchange, trader open positions were bullish, as 60% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 51% to buy the Euro against the USD.
On Tuesday, traders were 59% long and orders were 50% to buy and to sell.