Economic Calendar Analysis
On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor USD move.
On Friday, at 07:30 GMT, the German Flash Manufacturing and Services PMIs are most likely going to cause Euro moves.
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
A continuation of the recovery of the Euro against the US Dollar might encounter resistance in the 1.0860 and 1.0880 levels, before approaching the 1.0900 mark and the weekly R1 simple pivot point at 1.0907. Higher above, note the April high level zone at 1.0920/1.0938.On the other hand, a decline of the pair might look for support in the 200-hour simple moving average at 1.0840, the weekly simple pivot point at 1.0832. Further below, take into account the 50 and 100-hour simple moving averages near 1.0800. Below the 1.0800 level, note the post-ECB low level at 1.0757.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has passed below the March low level at 1.0810. This passing might result in the rate reaching the lower trend line of the large scale channel down pattern near 1.0750.Daily chart
Read More: Technical Analysis
Traders are long
On Wednesday, on the Swiss Foreign Exchange trader open positions were long, as 73% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 59% to sell the Euro against the USD.