Economic Calendar Analysis
At 15:00 GMT on Tuesday, the US Institute for Supply Management Purchasing Managers Index survey results for the Manufacturing sector will reveal the outlook of the managers in the economy sector on the near term future.
On Wednesday, at 13:15 GMT the ADP Non-Farm Employment change might create a move on all assets and pairs that are traded against the US Dollar.
On Thursday, the US Unemployment Claims might create a minor move of the USD at 13:30 GMT. Later on, expect the US ISM Services PMI to impact the USD at 15:00 GMT.
The week's most notable event will close the week. Namely, on Friday, at 13:30 GMT the US Employment data sets are set to be published. The release will consist of three numbers - the Average Hourly Earnings change month-on-month, the Non-Farm Employment Change during the month and the Unemployment Rate in February.
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 Euro surges higher against the US Dollar, the currency exchange rate could encounter resistance in the weekly S1 simple pivot point at 1.1266 and the 100-hour simple moving average near 1.1275. Further above, note the 1.1300 mark, the 200-hour simple moving average and the trend line, which connects February high levels.On the other hand, a decline of the currency pair might find support in the 50-hour simple moving average near 1.1230, before the pair declines to the weekly S2 simple pivot point at 1.1215 and the 1.1200 mark.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the currency exchange rate has pierced the 2022 low levels on February 24. Due to that reason, it is possible that the Euro reached new low levels against the US Dollar.Daily chart
Read More: Technical Analysis
Traders are long on EUR/USD
On Friday, on the Swiss Foreign Exchange trader open positions were long, as 61% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 68% to sell the Euro against the USD.