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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The EUR/USD has been dominated by a bearish outlook for several trading sessions in a row, stabilizing around the 4-month low support level of 1.1704.
The Euro initially tried to rally during the trading session on Wednesday but gave back the gains to form a bit of an inverted hammer.
The bearish momentum of the EUR/USD continued, reaching a 4-month low at the 1.1710 support, as the pair trades in the last session of Q1 2021.
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The Euro has fallen hard during the course of the trading session on Tuesday to reach down towards the 1.17 level.
The Euro has seen a serious drop during the month of March, and it looks very likely to continue into the month of April, at least initially.
The EUR/USD has stabilized around the 1.1760 support level, the lowest in four months, as of this writing.
The Euro has fallen a bit during the course of the trading session on Monday as we continue to see the US dollar strengthened overall.
The EUR/USD pair's losses during last week’s trading culminated in a move towards a 4-month low, reaching the support level of 1.1761 before closing steadily around 1.1792.
The euro rallied just a bit during the trading session on Friday, but still remains well below the 200-day EMA.
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The Euro continues to struggle overall as we have seen a lot of US dollar positivity.
Amid a strong bearish performance, the EUR/USD pair is still trying not to cross the psychological support barrier at 1.1800, which would trigger profit-taking push the pair towards stronger support levels.
The Euro drifted a little bit during the trading session on Wednesday to reach down towards the 1.18 handle before bouncing ever so slightly.
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Sign up to get the latest market updates and free signals directly to your inbox.Bears are still controlling the performance of the EUR/USD pair as US monetary policy officials are still confident in the future of the country's economic recovery amid vaccinations and economic stimulus plans.
The Euro fell significantly during the trading session on Tuesday as Germany has announced further lockdowns.
The EUR/USD pair had a bearish start to the week, moving to the support level of 1.1875 before settling around the resistance level of 1.1935 ahead of testimony from Federal Reserve Chairman Jerome Powell.