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 on Thursday as it looks like we are going to continue to see a certain amount of upward mobility,
The Euro went back and forth during the trading session on Wednesday as we continue to hang on to the 50 day EMA.
With the inauguration of US President Joe Biden, the US dollar gained some support and gains against the rest of the other major currencies.
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For the second day in a row, the EUR/USD pair is trying to correct to the upside, having stabilized around the 1.2155 resistance level as of this writing.
The euro rallied significantly during the trading session on Tuesday as we bounced from the 50-day EMA.
The EUR/USD pair had a bearish start to the week, retreating to the 1.2053 support level and stabilizing around 1.2080 as of this writing, ahead of the important German ZEW Index readings.
The euro initially fell during the trading session on Monday, but has recovered quite nicely as there does not seem to be a huge push to break it down in the short term.
The EUR/USD pair stabilized near the 1.2075 support level during Monday's trading session, after falling to that level last week in its biggest loss in over a month.
The Euro fell rather hard during the trading session on Friday, as we have broken down towards the 50 day EMA.
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The Euro has gone back and forth during the course of the trading session on Thursday, forming a bit of a neutral candlestick,
This week's sell-offs have pushed the EUR/USD pair to the support level of 1.2132 before it settled around the 1.2160 level as of this writing.
The euro initially tried to rally during the trading session on Wednesday, but gave back the gains to show signs of exhaustion yet again.
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After the EUR/USD pair had fallen to the 1.2132 support level, its lowest level in a month, the pair corrected to the 1.2210 level at the beginning of Wednesday's trading.
The euro bounced quite a bit during the trading session on Tuesday, as the 1.2150 level underneath has offered a bit of support before.
For the fourth day in a row, the price of the EUR/USD pair is in a downward correction range, having moved to the 1.2132 support level before settling around the 1.2160 level.