Economic Calendar Analysis
There will be one notable event during the week. On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT is set to impact the value of the US Dollar.
Note that at the same time, the weekly US Unemployment Claims will be published.
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
In the case that the Euro recovers against the US Dollar, the pair would have to pass the combined resistance of the 50-hour simple moving average and the upper trend line of a channel down pattern near 1.1435, before aiming at the 1.1472/1.1485 high level zone.On the other hand, a decline of the Euro or a strengthening of the US Dollar would once again result in the EUR/USD looking for support in the 100-hour simple moving average and the 1.1400 mark. A move below the 1.1400 would approach the weekly simple pivot point at 1.1358 and the 1.1350 mark.
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
Read More: Technical Analysis
Traders are neutral
On Monday, on the Swiss Foreign Exchange trader open positions were short, as 51% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 55% to sell the Euro against the USD.
On Tuesday, 52% of volume was short. However, pending orders were balanced, as 50% were to sell and to buy.