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 1.1150 mark provides support to the EUR/USD currency exchange rate, the pair might recover and approach the combined resistance of the 50 and 100-hour simple moving averages at the 1.1200 mark. Higher above, note the weekly simple pivot point at 1.1226.On the other hand, a decline of the Euro against the US Dollar could look for support in 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, one can better observe the January and February low level zone at 1.1106/1.1126. Below the support zone, the is no notable technical support as low as the 23.60% Fibonacci retracement level at 1.0886Daily chart
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Traders are long on EUR/USD
On Tuesday, 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 61% to buy the Euro against the USD.
On Monday, the sentiment was 62% long and pending orders were 63% to sell.