Meanwhile, it was observed that the 50-hour simple moving average had caught up with the pair from above and was acting as resistance.
Economic Calendar Analysis
On Thursday, a minor USD move might be created by the publication of the weekly US Unemployment Claims data at 13:30 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 Euro declines against the US Dollar clearly below the 1.0880 mark, the rate would have no technical support as low as the weekly S2 simple pivot point at 1.0818 and the March low level zone at 1.0807/1.0820.Meanwhile, a move upwards by the pair is expected to face some resistance in the form of the 50-hour simple moving average, before approaching the 1.0935/1.0940 zone. Above 1.0940, note the 1.0945/1.0970 zone and the 100-hour simple moving average.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the rate has reached the support of the 23.60% Fibonacci retracement level at 1.0886. The retracement levels are measured by connecting the 2017 low and 2018 high levels.Daily chart
Read More: Technical Analysis
Traders are long on EUR/USD
On Thursday, on the Swiss Foreign Exchange trader open positions were long, as 65% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 53% to buy the Euro against the USD.
On Wednesday, the sentiment was 64% long and pending orders were 51% to buy.