Economic Calendar Analysis
On Thursday, the US Unemployment Claims could cause an adjustment of the USD value.
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 pair reached above the 1.1400 mark, the Euro would face no resistance against the US Dollar as high as the weekly R1 simple pivot point at 1.1463. Above the pivot point, note the resistance zone of the February high levels at 1.1472/1.1495.On the other hand, a failure to pass the 1.1400 mark could result in a decline. A potential decline could first look for support in the combination of the 50 and 100-hour simple moving averages near 1.1350. Further below, note the 1.1300 mark and the weekly S1 simple pivot point at 1.1298. However, take into account that the 1.1300 level was passed on Monday, and the 1.1280 level acted as support.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, the currency exchange rate found enough support in the 1.1300 mark to pass the 50 and 100-day simple moving averages. It was clear on Wednesday that the adjustment to the fundamentals of the US Dollar and the Federal Reserve have created an environment, in which the pair ignores long term moving averages.Daily chart
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Long sentiment is gone
Since Monday, on the Swiss Foreign Exchange trader open positions were long, as 54% of open position volume was in long positions.
On Wednesday, the open positions were 51% short.
Meanwhile, trader set up pending orders in the 100-pip range around the pair were 60% to sell the Euro against the USD.