Economic Calendar Analysis
On Wednesday, at 13:30 GMT, the US Dollar might react to the publication of the US Final GDP. Although, the only release for more than a year, which caused a noteworthy move was the latest one, September 30 2021.
On Thursday, at 13:30 GMT the US Durable Goods Orders and Core Durable Goods orders data will be published. However, during the prior months the data release has not caused increases of volatility.
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
In the case that the pair surges, it could reach for the resistance of the weekly R1 simple pivot point at 1.1329. Above the pivot point, note the December high level resistance zone near the 1.1360 level.On the other hand, a potential decline of the Euro against the USD would need to pass the recent low levels and the 1.1260 mark, before aiming at the December low level zone at 1.1228/1.1236.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has been going nowhere during the whole of December, as the rate appears to be bouncing around the 1.1300 mark.Daily chart
Read More: Technical Analysis
Traders are long
On Wednesday, on the Swiss Foreign Exchange trader open positions were long, as 62% 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.
On Tuesday, 61% of volume was long and the orders were 57% to sell.