Economic Calendar Analysis
This week, there is only one notable scheduled event, which could impact the US Dollar and the financial markets. On Thursday, a minor move could occur due to the Philadelphia Federal Reserve Manufacturing Index release at 12:30 GMT.
EUR/USD hourly chart
A breaking of the resistance zone at 0.9795/0.9810 could result in a surge up to this week's high level zone near 0.9865/0.9875. Higher above, note the 0.9900 mark and the weekly R2 simple pivot point at 0.9897.Meanwhile, a decline of the Euro against the US Dollar might once again look for support in the 200-hour simple moving average and the 0.9760 level. Below these levels, the weekly simple pivot point at 0.9719 and the 0.9707/0.9715 zone could act as support.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the descending 50-day simple moving average and the 0.9860/0.9900 zone once again act as resistance.Daily chart
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Traders remain long
On Thursday, 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 62% to sell the Euro against the USD.
On Wednesday, the positions were 62% long. Meanwhile, pending orders were 56% to sell.