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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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.
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.
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The Euro has fallen a bit during the trading session on Monday, reaching down toward support underneath.
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.
For the second day in a row, the EUR/USD pair bounced back upwards after a failed attempt by the bears to reverse the uptrend.
The Euro has rallied a bit during the trading session on Tuesday as we reached towards the 1.19 level yet again.
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The positive results of the economic releases received from the Eurozone continue to stimulate the EUR/USD price to hold onto its gains around and above the 1.1800 resistance, which supports stronger control of the bulls and paves the way for a test of the 1.2000 psychological resistance.
The Euro initially tried to rally during the trading session on Tuesday but found the 1.19 level to be a bit too much to overcome.
For the second day in a row, the EUR/USD price is moving the in the downward correction amid profit-taking after an upward trend that pushed it towards the 1.1908 resistance, the highest level since May 2018.
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Throughout the July trading, the EUR/USD performance was in a permanent upward correction pushing it to the 1.1908 resistance, the highest level in months.
The Euro rallied a bit to kick off the trading session on Friday but gave back the gains again as the 1.19 level had been a bit too much.