Economic Calendar Analysis
This week, notable events are over. Next week's review is scheduled to be published on Monday.
EUR/USD hourly chart's review
A resumption of the surge of the Euro against the US Dollar would once again test the resistance of the 1.0550/1.0560 levels and the weekly R1 simple pivot point at 1.0553. However, a move above these levels would almost immediately encounter more resistance in the May high level zones at 1.0570/1.0600 and 1.0630/1.0640.Meanwhile, a potential decline below the 1.0472/1.0492 zone might look for support in the 1.0450 mark, the weekly simple pivot point at 1.0451 and the 100-hour simple moving average. Below these levels, note the May low level zone at 1.0350/1.0355.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair reached the support zone of the 2017 low levels. Meanwhile, the lower trend line of the 2022 channel down pattern has been pierced.Daily chart
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Sell order proportion to buy orders increases
On Wednesday, on the Swiss Foreign Exchange trader open positions were bullish, as 68% 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 sell the Euro against the USD.
On Tuesday, open positions were 69% long and pending orders were 54% to sell.