Economic Calendar Analysis
At 15:00 GMT on Tuesday, the US Institute for Supply Management Purchasing Managers Index survey results for the Manufacturing sector will reveal the outlook of the managers in the economy sector on the near term future.
On Wednesday, at 13:15 GMT the ADP Non-Farm Employment change might create a move on all assets and pairs that are traded against the US Dollar.
On Thursday, the US Unemployment Claims might create a minor move of the USD at 13:30 GMT. Later on, expect the US ISM Services PMI to impact the USD at 15:00 GMT.
The week's most notable event will close the week. Namely, on Friday, at 13:30 GMT the US Employment data sets are set to be published. The release will consist of three numbers - the Average Hourly Earnings change month-on-month, the Non-Farm Employment Change during the month and the Unemployment Rate in February.
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 surges above the 1.1200 mark, resistance could be met at the weekly simple pivot point at 1.1226 and the 100-hour simple moving average near the 1.1250 level. Higher above, note the resistance line of the February high levels and the 200-hour simple moving average near 1.1300.On the other hand, a potential decline of the Euro against the US Dollar might look for support in the 1.1150 mark and the February and January low level zone at 1.1106/1.1126. Further below, the 1.1100 mark might act as support, before the rate reaches the weekly S1 simple pivot point at 1.1061.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the currency exchange rate has pierced the 2022 low levels on February 24. Due to that reason, it is possible that the Euro reaches new low levels against the US Dollar.Daily chart
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Traders are long on EUR/USD
On Friday, on the Swiss Foreign Exchange trader open positions were long, as 61% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 68% to sell the Euro against the USD.
On Tuesday, the sentiment was 62% long and pending orders were 63% to sell.