The EUR/USD pair is highly recommended for traders who are only beginning to trade Forex. It trades easily by retail traders as well as by Central banks and financial institutions around the world.
The most active trading sessions takes place in London and New York and the most commonly used EUR/USD Forex charts are the Daily, 4 Hour and 1 Hour charts. The traders at Daily Forex will post the latest Euro to US dollar forecasts and will keep you totally updated regarding EUR/USD trading.
EUR/USD receives additional interest from volume generated by the Euro-crosses (e.g. euro/British pound (EUR/GBP), EUR/CHF and EUR/JPY. This interest tends to be contrary to the underlying U.S. dollar direction, making it an attractive market for short-term traders.
Most Recent
For three trading sessions in a row, the EUR/USD is moving in a downward correction range amid profit-taking selling.
The euro fell during most of the trading session on Tuesday to reach down towards the previous downtrend line and find support.
For three trading sessions in a row, the EUR/USD is trying to stop recent losses that pushed it towards the support level of 1.2013 before settling around 1.2030 as of this writing.
Top Forex Brokers
The euro recovered quite nicely during the trading session on Monday as it tested the previous downtrend line.
By the end of last week's trading, the EUR/USD pair plunged to the support level of 1.2016, and its upward correction gains pushed the pair to the resistance level of 1.2150, a 2-month high.
The euro broke down significantly during the trading session on Monday to reach towards the previous downtrend line that we have broken.
The Euro initially tried to rally during the trading session on Thursday but gave back the gains to form a bit of a shooting star
April was a very strong month for the euro, and I do believe that we will continue to see a bit of continuation going forward.
The upward correction path for the EUR/USD is getting stronger.
Bonuses & Promotions
The euro shot above the uptrend line during the trading session on Wednesday as we awaited the Federal Reserve FOMC statement and press conference.
The Forex market is awaiting the Federal Reserve's announcement of its monetary policy decisions and Chairman Powell’s statements, followed by the growth rate of the US economy.
The euro has initially fallen during the trading session on Tuesday but found buyers later in the day to suggest that perhaps we are going to try to take out this minor downtrend line that sits just above.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.Despite the reopening of some European economies, the gains of the EUR/USD stopped at the 1.2117 resistance level before stabilizing around 1.2075 as of this writing.
The euro has gone back and forth during the trading session on Monday, showing signs of hesitation right around the 1.21 level.
By the end of last week's trading, the EUR/USD pair jumped to the 1.2100 resistance level, a near two-month high, and closed near that resistance.