Economic Calendar Analysis
On Thursday morning, at 08:30 GMT the German Markit Purchasing Managers Index survey results are bound to impact the value of the Euro.
Afterwards, at 12:30 GMT, the US Durable Goods Orders, Core Durable Goods Orders and the weekly Unemployment Claims might cause minor moves on USD charts.
Week's notable events will end with the release of the US Manufacturing and Services PMIs at 13:45 GMT.
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, the pair could find support in the 100-hour simple moving average near 1.1010, the 1.1000 mark and the 200-hour simple moving average near 1.0990. Further below, note the weekly simple pivot point at 1.0947 and the 1.0950 mark.However, a recovery of the Euro against the USD Dollar might face resistance near the 1.1050 mark, where the 50-hour simple moving average was located at on Friday. Higher above, the 1.1100/1.1120 zone is highly likely to act as resistance.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has once again bounced off the March high, February and January low level zone above 1.1100.Daily chart
Read More: Technical Analysis
Traders set up buy orders
On Thursday, on the Swiss Foreign Exchange trader open positions were long, as 63% 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 sell the Euro against the USD.
On Friday, the open positions were 63% long and pending orders were 69% to buy the Euro against the USD.