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 Euro rallied a bit during the trading session to slice above the 1.22 level, but then turned around to show signs of weakness.
For five trading sessions in a row, the bulls have been trying to push the EUR/USD to move higher in light of the US dollar's decline and investor risk appetite.
The euro fell a bit during the trading session on Wednesday to reach down towards the 50-day EMA.
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Bullish attempts to push the EUR/USD pair to stronger ascending levels are still weak.
The euro initially rallied during the trading session on Tuesday but gave back the gains as we got close to the 1.2175 handle.
Global risk appetite prompted the EUR/USD currency pair to correct upwards, reaching the 1.2170 resistance level before settling around the 1.2155 level at the beginning of Tuesday's trading.
The euro rallied again during the trading session on Monday, showing signs of strength.
The EUR/USD sold off and retreated at the beginning of last week’s trading to the 1.2023 support level, then rebounded higher at the end of the week to the 1.2144 resistance level before closing steadily around 1.2117.
The euro initially rallied during the trading session on Friday but found trouble near the 1.2150 level to turn things around and start dropping again.
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The Euro has bounced a bit during the trading session on Thursday to reach towards the 50 day EMA as the 1.20 level has offered significant support.
Low risk appetite has compensated the US dollar for its recent sharp losses.
The euro has fallen quite a bit during the trading session on Wednesday as we continue to see noise influencing the market.
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The euro initially tried to rally during the trading session on Tuesday to reach towards the 1.2150 level before pulling back again.
The euro is still lagging far behind the pace of risk appetite that has dominated the markets recently, as gains from the EUR/USD's bullish rebound did not exceed the 1.2150 resistance level.