Economic Calendar Analysis
The week's most notable event will close the week. Namely, on Friday, at 13:30 GMT the US Employment data sets are set to be published. The release will consist of three numbers - the Average Hourly Earnings change month-on-month, the Non-Farm Employment Change during the month and the Unemployment Rate in February.
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 EUR/USD continues to decline against the US Dollar, the rate would have to clearly pass below the 1.1050 mark. Afterwards, the 1.1000 mark is highly likely going to act as support, before the rate tests the support of the trend line, which connects the February low levels.On the other hand, a potential recovery of the pair would find resistance at 1.1100 where the 50-hour simple moving average is located at. Higher above, the 1.1107/1.1127 zone could once again act as resistance. Even higher, the 100-hour SMA is located at the 1.1150 mark.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, one can better observe the January and February low level zone at 1.1106/1.1126. Below the support zone, the is no notable technical support as low as the 23.60% Fibonacci retracement level at 1.0886Daily chart
Read More: Technical Analysis
Traders remain long on EUR/USD
On Thursday, on the Swiss Foreign Exchange trader open positions were long, as 62% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 55% to buy the Euro against the USD.
On Wednesday, the sentiment was 60% long and pending orders were 53% to sell.