Economic Calendar Analysis
There are no more notable events for this pair scheduled for this week. Next week's review is bound to be published on Friday.
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 rate recovers from the 1.1455 level, the EUR/USD might immediately encounter resistance in the form of the weekly S2 simple pivot point at 1.1463. Above the pivot point, the zone at 1.1513/1.1538 might act as resistance.However, a decline below the 1.1455 level might find support in the weekly S3 simple pivot point at 1.1413, before aiming at the 1.1400 mark.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has reached the support of the 50.00% Fibonacci retracement level. The drop was being expected since the end of October.In regards to the future, a passing of the retracement level would have no technical support as low as the 1.1300 mark, where the lower trend line of the large scale channel down pattern was located at.
Daily chart
Read More: Technical Analysis
Long sentiment grows
On Thursday, on the Swiss Foreign Exchange trader open positions were long, as 67% of open position volume was in long positions.
On Wednesday, 64% of volume was in long positions. On Tuesday, only 55% of volume was long.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 65% to buy the Euro against the USD.
The orders were 70% to buy on Wednesday and 67% to sell on Tuesday.