Economic Calendar Analysis
On Wednesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data might cause USD moves.
The top event of the quarter is scheduled for 18:00 GMT. At that time, the US Federal Reserve will release its FOMC Statement and FOMC Economic Projections and the Federal Funds Rate.
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 Euro continues to gain value in the near term future, the pair could approach the 1.1088 mark, where the weekly R1 simple pivot point is located at. Higher above, note the 1.1100 mark and the zone above it.On the other hand, a potential decline of the pair might find support in the 1.0947/1.0990 zone, where the weekly simple pivot point and the three hourly simple moving averages are located at. Further below, the 1.0900 mark could once again act as support.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has encountered resistance in the January and February low level zone above the 1.1100 mark.Daily chart
Read More: Technical Analysis
Traders are long
On Monday, on the Swiss Foreign Exchange trader open positions were long, as 63% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 58% to sell the Euro against the USD.
On Tuesday, the sentiment was 62% long and pending orders were 57% to sell.