Economic Calendar Analysis
On Tuesday, at 13:30 GMT, the US Producers Price Index data will reveal, how high is the inflation at the production level.
Possibly the top event of the week will take place on Wednesday at 19:00 GMT, as the US Federal Open Markets Committee Meeting Minutes will be published. The Meeting Minutes provide an insight to the decisions of the US Federal Reserve.
On Thursday, the US Unemployment Claims could cause an adjustment of the USD value.
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
A move above the 1.1350 mark could reach first for the resistance of the 100-hour simple moving average near 1.1380. Higher above, the weekly simple pivot point might act as resistance at 1.1392, before reaching the 1.1400 mark and the 200-hour simple moving average.On the other hand, a decline would have to pass the 50-hour simple moving average near 1.1335. Afterwards, support might be found in the 1.1300 mark and the weekly S1 simple pivot point at 1.1289.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, on Monday, the pair passed below the 50-day simple moving average near 1.1330. If the rate clearly moves below the moving average, the next support on the daily candle chart would be the 1.1200 mark and the 38.20% Fibonacci retracement level located at it.Daily chart
Read More: Technical Analysis
Traders are long
Since Monday, on the Swiss Foreign Exchange trader open positions were long, as 54% of open position volume was in long positions.
Meanwhile, on Tuesday, trader set up pending orders in the 100-pip range around the pair were 50% to buy and sell the Euro against the USD.