Economic Calendar Analysis
On Tuesday, at 12:30 GMT, the US Producer Price Index data will be out. Expect minor moves on USD charts.
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 releases 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 manages to continue the recovery against the USD, the rate would have to pass the resistance of the hourly simple moving averages and the 1.1000 mark. A move above the 1.1000 could encounter resistance at 1.1050, before approaching the weekly R1 simple pivot point at 1.1088 and the 1.1100 level.On the other hand, a decline of the pair is expected to look for support in the 1.0900 and 1.8500 levels, prior to approaching the March low levels near 1.0808/1.0823.
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
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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.