Economic Calendar Analysis
On Tuesday, the US ISM Manufacturing Purchasing Managers Index release at 15:00 GMT could cause USD moves.
On Wednesday, at 13:15 GMT, the US ADP Non-Farm Employment Change is set to be published. The event might cause minor USD volatility.
On Thursday, at 12:45 GMT the European Central Bank is set to publish its Main Refinancing Rate and Monetary Policy Statement. However, note that volatility is present during the Press Conference of the bank. The press conference is scheduled to start at 13:30 GMT.
The day will end with the US ISM Services PMI, which might cause minor volatility.
On Friday, the US is going to publish employment data at 13:30 GMT.
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 rate passes above the 1.1200 mark, it could find resistance in the weekly simple pivot point at 1.1208 and the 100-hour simple moving average. Above these levels, there is a resistance zone at 1.1228/1.1235.On the other hand, a decline would have to pass the 50-hour simple moving average and the 1.1150 mark, before reaching for the January low levels above 1.1120.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the currency pair has passed below the support of the 38.20% Fibonacci retracement level at 1.1200. There is no close by support on the daily candle chart. Most close by levels are located below 1.1000. The 1.1000 mark could act as support on its own.Daily chart
Read More: Technical Analysis
Traders are long
Since Thursday, on the Swiss Foreign Exchange trader open positions were long, as 66% of open position volume was in long positions.
Meanwhile, on Monday, trader set up pending orders in the 100-pip range around the pair were 54% to sell the Euro against the USD.