Afterwards, comments made by the head of the central bank Christine Lagarde caused a surge of the currency pair.
Economic Calendar Analysis
On Friday, the US is going to publish employment data at 13:30 GMT. Largest moves are expected due to this event.
Next week, there will be one notable event during the week. On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT is set to impact the value of the US Dollar.
Note that at the same time, the weekly US Unemployment Claims will be published.
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
The surge of the EUR/USD could be stopped by the resistance of the 1.1400 level or the weekly R2 simple pivot point at 1.1434. On the other hand, a decline of the pair might find support in the 1.1300 level and the 50-hour simple moving average, before aiming at the 1.1250 mark and the 100 and 200-hour simple moving averages.Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the pair has returned to trade above the 1.1300 mark. Most notably, the rate has pierced the resistance of the 50-day simple moving average near 1.1310.Next target for the pair was the 100-day simple moving average at the 1.1433 level. Above the SMA, take into account the 50.00% Fibonacci retracement level at 1.1454.
Daily chart
Read More: Technical Analysis
Long sentiment decreases
On Tuesday, 62% of volume was long, and pending orders were 62% to sell.
On Wednesday, on the Swiss Foreign Exchange trader open positions were long, as 59% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 63% to sell the Euro against the USD.
By the middle of Thursday, the sentiment was 57% long and orders were 73% to sell.