On the EUR/USD charts these events have resulted in a surge, which has broken resistance at 1.0780 and the 1.0800 mark. On Thursday morning, the pair confirmed the 1.0840 level as support and extended the surge, aiming at the 1.0900 mark. The rate could surge to this level, before the Friday's US employment data publication.
Economic Calendar Analysis
This week, the financial markets could react to United States macroeconomic events.
On Friday, one of the top events will take place. The US employment data sets will be published at 12:30 GMT. The US release will consist of the Unemployment Rate, Non-Farm Employment Change and the Average Hourly Earnings change.
EUR/USD hourly chart analysis
A move above the 1.0900 mark and the weekly R2 simple pivot point at 1.0904 is expected to face resistance in the 1.0940 level and the weekly R3 at 1.0943.On the other hand, a decline is set to look for support in the weekly R1 at 1.0847 and the 1.0840 level, before reaching the combination of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near the 1.0800 mark.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the recovery has passed above the 50 and 200-day simple moving averages. However, on Thursday, the 100-day simple moving average was holding.Higher above, watch the 1.0950 level that acted as resistance in March.
Daily chart
Read More: Technical Analysis
Traders go short
On Tuesday, traders were 56% long, as that amount of open position volume was in bullish positions.
Meanwhile, pending orders in the 100-pip range around the pair were 53% to sell.
On Thursday, open positions were 53% short and orders were 68% to sell.