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.
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For five trading sessions in a row, the price of the euro currency pair against the dollar, EUR / USD, is moving in a limited range.
The Euro pulled back just a bit during the trading session on Monday to reach below the 1.19 level but has since then turned around to show signs of support again.
The pair now awaits stronger incentives to complete the correction to the upside, as the psychological resistance of 1.2000 remains the most important for the bulls at present.
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The euro initially fell during the trading session on Friday, but then turned around to form a bit of a hammer.
The Euro has turned around a break slightly above the shooting star from the previous session on Wednesday, as it continues to see massive inflows.
The EUR/USD pair's bullish performance resulted in gains that culminated in testing the 1.1915 resistance level before settling around the 1.1870 level as of this writing.
The euro rallied significantly during the trading session on Wednesday but gave up gains above the 1.19 handle.
The retracement gains of the EUR/USD pair's upward correction were capped by a test of the 1.1878 resistance level, which the pair is near as of this writing.
The EUR/USD price rally continued in the Asian session ahead of the European Services PMI numbers and FOMC minutes.
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The euro has broken to the upside during the trading session on Tuesday to clear the 200-day EMA.
The EUR/USD pair's bounce gains were capped as Forex investors temporarily abandoned the dollar by testing the 1.1820 resistance level before stabilizing around 1.1810 at the beginning of Tuesday's trading.
The Euro initially pulled back a bit during the trading session on Monday, but then turned around to rally quite significantly.
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Better-than-expected results from recent US economic data, especially with regard to the labor market, helped the US dollar achieve more gains before the market holiday.
The Euro bounced significantly during the trading session on Thursday as the 1.17 level has offered significant support.