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
An extension of the ongoing surge of the Euro against the US Dollar could encounter resistance in the weekly R2 simple pivot point at 0.9897 and the 0.9900 mark. Higher above, the 1.0000 parity level might once again act as resistance.Meanwhile, a decline of the currency pair is expected to look for support in the weekly R1 simple pivot point at 0.9807 and the 0.9800 level. Below these levels note the 50, 100 and 200-hour simple moving averages.
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
Read More: Technical Analysis
Traders close long positions
On Tuesday, 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 57% to sell the Euro against the USD.
On Monday, the positions were 64% long. Meanwhile, pending orders were 53% to sell.