Economic Calendar Analysis
There will be one notable event during the week. On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT is set to impact the value of the US Dollar.
Note that at the same time, the weekly US Unemployment Claims will be published.
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 surge of the Euro against the USD continues, the pair could reach the February high level zone at 1.1472/1.1485. Above the resistance zone, the 1.1500 mark might act as resistance.On the other hand, a potential decline might look for support in the low level zone near 1.1400, before reaching the weekly simple pivot point at 1.1358.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has found resistance in the 2022 high level. Moreover, on Tuesday, the pair passed below the 100-day simple moving average, which signals that a decline could occur. The most close by support on the daily candle chart was the 1.1350 mark and the 50-day simple moving average near 1.1315.Daily chart
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Traders go short
On Wednesday, on the Swiss Foreign Exchange trader open positions were short, as 54% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 54% to sell the Euro against the USD.
On Tuesday, 52% of volume was short. However, pending orders were balanced, as 50% were to sell and to buy.