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 fell a bit during the trading session on Thursday as the 1.08 level seems to be a little bit much to overcome.
EUR/USD failed to hold early gains yesterday and continued its losses to the 1.073 support level, its lowest in over a month, as political uncertainty in France
The euro has plunged as of late, especially as the ECB is cut rates, and of course we have had snap elections called in France.
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The EUR/USD exchange rate is under pressure as political uncertainty returns to haunt the eurozone.
At the start of this exciting trading week, the EUR/USD price tumbled with stronger losses amidst a bearish gap, reaching the support level of 1.0748, the lowest level for the currency pair in a month.
EUR/USD has been under selling pressure since the middle of this week's trading, falling from the 1.0916 resistance level, the highest for the pair in over two months, to the 1.0855 support level.
EUR/USD remains steady near its highest level in ten weeks around the 1.0900 resistance level.
What is the euro against the dollar exchange rate forecast for this week? We expect a test of 1.09 and a potential breakout from the May range, but US Labor market numbers must come in weak.
The EUR/USD rose further to touch the $1.088 resistance level at the end of trading last week, its highest level in two weeks, as the divergence between the ECB and Fed's monetary policy paths widened.
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Before announcing important American economic data, EUR/USD has dipped to near the 1.08 support level again.
In an attempt to further rebound the EUR/USD price, the pair rose towards the 1.0889 resistance level yesterday before stabilizing around the 1.0850 level at the time of writing the analysis.
The EUR/USD rate rose to 1.0867 in the last week of May, approaching two-month highs seen earlier in the month as traders adjusted their bets on a rate cut.
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Considering the return of US dollar strength following recent signals from US Federal Reserve officials about keeping US interest rates high for longer, the EUR/USD currency pair tried to avoid moving below the 1.080 support level.
The Euro rallied significantly during the course of the trading session on Friday as the 1.08 level continues to offer plenty of interest in this market.
For the second day in a row, the EUR/USD has given up its recent gains, which reached the 1.0885 resistance level at the beginning of trading this week.