Economic Calendar Analysis
This week, there are no notable pre-scheduled events that might impact the currency exchange rate.
Some financial news outlets note the upcoming "speech" of Jerome Powell on Thursday at 19:00 GMT. However, the head of the central bank is set to participate in a panel discussion at a research conference not give a speech. It is not normal for the head of the Fed to make notable comments at such minor events.
EUR/USD hourly chart analysis
A recovery of the currency pair is expected to face resistance in the 1.0720 level that appears to have turned into resistance at mid-Wednesday. Higher above, note the 1.0745/1.0755 range.Meanwhile, a decline of the pair is set to look for support in the weekly simple pivot point at 1.0664 and the 1.0660 mark. In addition, the rate is being approached by the 200-hour simple moving average. Below these levels note the 1.0600 mark and the support and resistance zone that surrounds it.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has broken the resistance zone at 1.0635/1.0695 and the 50-day simple moving average. In the near term future, the pair could look for support in the zone.Daily chart
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Traders are short
On Thursday, the Swiss Foreign Exchange traders were 55% in short positions.
Meanwhile, trader set up pending orders in a 100-point range around the current rate were 57% to sell the Euro against the US Dollar.