Economic Calendar Analysis
Watch the US ISM services PMI release on Wednesday at 14:00 GMT. Besides this release, there are no notable events scheduled that can impact the financial markets.
EUR/USD hourly chart
Near the 1.8030 level, the rate is set to face the combination of the 50, 100 and 200-hour simple moving averages, the weekly simple pivot point and the 1.0830/1.0845 support and resistance zone. Moreover, the range is crossed by a resistance line, which connects the pair's recent notable high levels. If these technical levels fail to keep the pair down, the rate could approach the weekly R1 simple pivot point at 1.0888.On the other hand, a highly likely bounce off from resistance and decline of the rate is expected to look for support in the 1.0800 mark, before the pair once again approaches the 1.0766/1.0771 range.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, due to the ongoing fundamental releases, the pair has ignored the 100 and 200-day simple moving averages. However, note that they might resume to act upon the currency exchange rate.Daily chart
Read More: Technical Analysis
Traders are bullish
On Friday, the Swiss Foreign Exchange traders were 65% in long positions.
Meanwhile, trader set up pending orders in a 100-point range around the current rate were 56% to buy the Euro against the US Dollar.
On Monday, positions were 67% long and orders were 62% to sell.