Economic Calendar Analysis
On Friday, the US Flash Manufacturing and Services PMIs could cause an impact on the US Dollar.
EUR/USD hourly chart
The ongoing decline of the pair is expected to look for support in the 1.0910 level, which acted as support on Friday. Further below, note the 1.0900 mark and the weekly S1 simple pivot point at 1.0857.On the other hand, a resumption of the broader EUR/USD recovery might be slowed down by the 1.0950 level and the 50 and 200-hour simple moving averages. Higher above, note the weekly simple pivot point at 1.0966 and the 1.0982/1.0984 range.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has retraced and declined below the last year's April high. If the rate starts a broad decline, support might be found in the 55 and 100 day simple moving averages near 1.0760.Daily chart
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Traders are shorting
On Wednesday, trader open positions were bearish, as 59% of open position volume was in short positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 59% to buy the Euro against the USD.