On Thursday, the decline of the EUR/USD had stopped at the support of the weekly S3 simple pivot point at 1.1937.
Economic Calendar Analysis
On Thursday, the US Unemployment Claims could cause a move from 5.9 to 28.8 pips.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
EUR/USD hourly chart's review
In the case of the pair extending the decline, the currency exchange rate could look for support in the round exchange rate levels like the 1.1900 and the 1.1850.On the other hand, a potential recovery would face resistance near 1.2000. Afterwards, the weekly S2 simple pivot point could provide resistance at 1.2015.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate passed the support of the 55, 100 and 200-day simple moving averages. Moreover, the prior channel down pattern was broken.Moreover, it can be spotted on the daily candle chart that in March the rate found support in the 1.1850 and the 1.1700 levels.
Daily chart
Read More: Technical Analysis
Traders become neutral
On Wednesday, on the Swiss Foreign Exchange trader open positions were short, as 55% of open position volume was in short positions.
On Thursday, the sentiment was 51% long, as traders had become neutral.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 73% to buy the pair.