By the middle of Thursday's trading, the pair had returned to the 1.1320 level. In the near term future, the pair could test the resistance of the 1.1320/1.1325 zone, which represents the recent high levels.
Economic Calendar Analysis
On Thursday, the week's notable events will end with the weekly US Unemployment Claims at 13:30 GMT and the US PMIs at 14:45 GMT. These events have rarely caused notable USD moves.
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 breaks the resistance of the 1.1320/1.1325 zone, the rate could reach the December high level zone at 1.1355/1.1360. Above the December high, the pair might be stopped by the weekly R1 simple pivot point at 1.1373.Meanwhile, a decline of the rate is most likely going to look for support in the weekly simple pivot point at 1.1300. Below the pivot point, take into account the 50, 100 and 200-hour simple moving averages spread out from 1.1280 up to 1.1290.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the EUR/USD has been going nowhere during the whole of December, as the rate appears to be bouncing around the 1.1300 mark.Daily chart
Read More: Technical Analysis
Long sentiment decreases
On Thursday, on the Swiss Foreign Exchange trader open positions were long, as 61% of open position volume was in long positions.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 74% to sell the Euro against the USD.
On Wednesday, open positions were 65% long and pending orders were 59% to buy.