It's been a few days since the EUR/USD pair has made any significant movement. The EUR/USD was ranging, up until today, now the price is breaking the support level and is moving downwards. On the EUR/USD daily chart, there is a bullish divergence performing: 
There is a strong support level around 1.3480 and the price is trying to test the support level. The indicators are clearly showing bullish divergence and the price is expected to bounce back from the support level and move up, breaking the trend line while moving higher. Let's take a look on a lower time frame :
On the 4H chart,the MACD and Stochastic are performing bullish divergence too, even though it's not clear yet. If the price on the 4H chart is showing bullish divergence, then it's a strong signal to open a buy position. It would be wise to wait until the price is breaking the trend line and has closed above the trend line before entering the trade. But if the price keeps going downward and the indicators are not showing divergence then no trade should be entered.
To keep an eye out for this, I have listed some important news of this week. Make sure you pay attention for a change in direction of the price. The news might strengthen the EURUSD influencing it to move higher.
Monday – German PPI and Chicago fed national activity data. Tuesday – UK CBI industrial trend orders data, US CPI figures, US existing home sales data and Australian CPI figures.
Wednesday –MPC meeting minutes, BOE Carney’s Speech, Canadian retail sales data, RBNZ interest rate decision, Japanese trade balance data and Chinese HSBC manufacturing PMI. Thursday – French manufacturing and service PMI, German manufacturing and service PMI, Euro Zone manufacturing and service PMI, UK retail sales data, US manufacturing PMI and US new home sales data.
Friday –German IFO business climate index, UK GDP and US core durable goods orders data.