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 has broken above a significant resistance in the form of the 1.19 level, as the consolidation area that we had been in is finally in our rearview mirror.
For the fifth day in a row, the EUR/USD pair is moving in an upward correction range, which reached the 1.1881 resistance before settling around 1.1870 at the beginning of the trading session on Tuesday.
The Euro broke higher during the trading session on Monday, reaching towards the 1.19 level above.
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The US dollar is desperately trying to make up for its losses against most other major currencies.
The Euro pulled back a bit during the trading session on Friday but has recovered quite nicely to form a green candlestick.
The Euro has initially rally during the trading session on Thursday but gave back about half the gains in order to stay well within the range that we have been stuck in for a couple of weeks.
Despite the recent strength of the US dollar, the EUR/USD, is trying to consolidate near the 1.1800 resistance to confirm the continuation of the bullish momentum.
The Euro rallied again during the trading session on Wednesday, as we have tested the top of the inverted hammer from the trading session on Tuesday.
For four trading sessions in a row, the EUR/USD pair was in a downward correction range that pushed it towards the 1.1710 support at the time of writing.
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The Euro initially rallied during the trading session on Tuesday but gave back all of the gains essentially to form a shooting star-shaped candlestick.
For the third day in a row, the price of the EUR/USD is moving in a downward correctional range, which pushed it to the 1.1722 support at the time of writing, and ahead of the announcement of the ZEW reading for the German economic sentiment.
The Euro has fallen a bit during the trading session on Monday, reaching down toward support underneath.
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The weekly EUR/USD performance was distinguished, as it continued to correct upwards, and its gains reached the 1.1916 resistance.
The Euro has broken down significantly during the trading session on Friday after the Non-Farm Payroll number came out.
The Euro has gone back and forth during the training session on Thursday as we await the Non-Farm Payrolls announcement.