Economic Calendar Analysis
On Tuesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data will be published. The data is set to reveal whether the US consumer had continued to make purchases in the market.
To see historical move tables click on the link below.
EUR/USD hourly chart's review
In the near term future, a potential continuation of the surge of the Euro against the US Dollar could encounter resistance in the combination of the weekly simple pivot point at 1.0451, the 100-hour simple moving average and the 1.0450 level. Higher above, take into account that the late April and early March support zone at 1.0472/1.0492 might turn into resistance.However, a decline of the currency exchange rate is highly likely to look for support in the 50-hour simple moving average and the 1.0400 mark, before approaching the last week's low level zone at 1.0350/1.0355.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair reached the support zone of the 2017 low levels. Meanwhile, the lower trend line of the 2022 channel down pattern has been pierced.Daily chart
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Traders are long
Since Friday, on the Swiss Foreign Exchange trader open positions were bullish, as 72% of open position volume was in long positions.
Meanwhile, on Monday, trader set up pending orders in the 100-pip range around the pair were 66% to sell the Euro against the USD.
On Friday, the orders were 71% to sell.