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 move above 0.9800 could encounter resistance in the 50-hour simple moving average near 0.9840. Higher above, note the Monday's and Tuesday's high levels at 0.9865/0.9875. Afterwards, the 0.9900 mark and the weekly R2 simple pivot point might provide resistance.On the other hand, a decline of the Euro against the US Dollar might look for support in the combination of the 0.9760 level and the 200-hour simple moving average. Below these levels, take into account the weekly simple pivot point at 0.9719 and the Friday's low levels at 0.9708/0.9715.
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 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 Wednesday, the positions were 62% long. Meanwhile, pending orders were 56% to sell.