Economic Calendar Analysis
On Thursday, the US Unemployment Claims might create a minor move of the USD at 13:30 GMT. Later on, expect the US ISM Services PMI to impact the USD at 15:00 GMT.
The week's most notable event will close the week. Namely, on Friday, at 13:30 GMT the US Employment data sets are set to be published. The release will consist of three numbers - the Average Hourly Earnings change month-on-month, the Non-Farm Employment Change during the month and the Unemployment Rate in February.
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 continues to surge, it would have to pass the resistance zone at 1.1107/1.1127. Above the resistance zone, the 50 and 100-hour simple moving averages could provide resistance near the 1.1150 mark, before the pair returns to the 1.1200 level.However, a decline of the Euro against the US Dollar might once again look for support in the weekly S1 simple pivot point at 1.1061. Below the pivot point, the 1.1050 mark could provide support, before the pair declines to the February low level trend line.
Hourly Chart
EUR/USD daily chart's review
On the daily candle chart, one can better observe the January and February low level zone at 1.1106/1.1126. Below the support zone, the is no notable technical support as low as the 23.60% Fibonacci retracement level at 1.0886Daily chart
Read More: Technical Analysis
Long sentiment decreases
On Tuesday, 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 61% to buy the Euro against the USD.
On Wednesday, the sentiment was 60% long and pending orders were 53% to sell.