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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EUR/USD is under selling pressure and is currently trading around 1.0842, ahead of the release of PMI readings for the manufacturing and services sectors of the eurozone and US economies.
At the start of this week’s trading, the EUR/USD exchange rate remained stable around 1.0885, retreating from last week's four-month high of 1.0940.
The EUR/USD exchange rate didn’t enjoy its strong gains for long last week, which saw it reach the 1.0948 resistance level, its highest in four months.
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The trading week was broadly positive for the Euro against the US Dollar (EUR/USD).
The EUR/USD price halted its gains at the 1.0922 resistance level and has returned to move down, settling around the 1.0875 level at the time of writing.
The EUR/USD reached its highest level in five weeks last Friday, but there is potential for a consolidated pullback in the next five days.
The euro strengthened against the dollar last week.
In my daily euro analysis, it's easy to see that the 1.09 level continues to be a massive barrier in this market as we slammed directly into it, only to give up the gains at this point in time.
The EUR/USD price is stable around the 1.0840 level, amid attempts to rebound higher, but it lacks the momentum to achieve this.
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It’s obvious that the EUR/USD currency pair has no idea what to do with itself.
EUR/USD’s gains have been temporarily halted around its highest in a month with gains reaching the resistance level of 1.0845 and are stabilizing around the level of 1.0810 at the time of writing.
In my daily Euro/US dollar analysis, it's hard not to notice that we are essentially sitting still.
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Sign up to get the latest market updates and free signals directly to your inbox.At the start of trading this important week, EUR/USD remained stable at $1.0843 after falling to $1.0815 as investors overcame the initial shock of the French election results.
The US dollar weakened against other major currencies after a US Labor market report showed continued slowing conditions, reinforcing expectations of a rate cut by the Federal Reserve at its September policy meeting.
I recognize that the EUR/USD currency pair is reaching a significant resistance barrier that we could have a lot of trouble to get above.