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 continues to look very bullish, as we saw buying pressure during the trading session on Tuesday.
Market optimism helped the EUR/USD stick to its recent gains, which extended to the 1.2250 resistance at the beginning of this week's trading, before stabilizing around the 1.2238 level.
The euro rallied during the trading session on Monday but gave back the gains rather quickly.
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For four trading sessions in a row, the EUR/USD currency pair was exposed to limited selling operations that pushed it towards the 1.2130 support before settling around the 1.2185 level at the beginning of the year's last week of trading.
The euro rallied a bit during the trading session on Thursday, to reach towards the 1.22 handle.
The euro has had a relatively good end of the year for 2020, so it is likely that we will see a bit of exhaustion in this general vicinity.
With the holiday season approaching, investor risk appetite is growing, and thus the dollar's price is declining.
The euro rallied significantly during the trading session on Wednesday, reaching towards the 1.22 level before pulling back a bit.
For three trading sessions in a row, the EUR/USD pair has been moving in a downward correction range.
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The euro initially tried to rally during the trading session on Tuesday as the Brexit negotiations continue to fail when it comes to a resolution.
Risk currencies were subject to declining price gaps at the beginning of trading this week, amid fears of new strains of a COVID-19 virus.
The euro broke down significantly during the trading session on Monday amid global concerns surrounding the coronavirus mutation in the United Kingdom.
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With the holidays approaching, investors prefer to make profits, especially after recent record gains.
The euro pulled back a bit during the trading session on Friday, but it looks as if we are simply trying to hover and consolidate after a massive explosion to the upside.
The Euro exploded to the upside during the trading session on Thursday, as we continue to see the US dollar get battered on stimulus hopes.