Economic Calendar Analysis
The top event of the week will occur on Friday, as at 13:30 GMT the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to be published.
The week's events are scheduled to end at 15:00 GMT with the publication of the US Institute for Supply Management Manufacturing Purchasing Managers Index survey results.
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
If the common European currency exchange rate declines, it would first look for support in the 1.1060 mark and the 100-hour simple moving average. Further below, the weekly R1 simple pivot point at 1.1048 and the 1.1050 level might act as support. Below the 1.1050 level, the 200-hour simple moving average at 1.1035 could act as support, before the EUR/USD reaches the 1.1000 mark and the weekly simple pivot point at 1.1004.On the other hand, an appreciation of the Euro's value against the US Dollar would face resistance at the 1.1100 mark, the weekly R2 simple pivot point at 1.1114, the 50-hour simple moving average near 1.1130 and the weekly R3 simple pivot point at 1.1157.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has succeeded on its third attempt at passing the zone of the January and February low levels and March high levels. However, the pair has encountered resistance in the 50-day simple moving average.Higher above, note the 38.20% Fibonacci retracement level at 1.1200 and the 100-day simple moving average at 1.1240.
Daily chart
Read More: Technical Analysis
Long sentiment decreases
On Wednesday, on the Swiss Foreign Exchange trader open positions were long, as 61% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 62% to sell the Euro against the USD.
On Thursday, the sentiment was 58% long and pending orders were 53% to sell.