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 down below the 1.10 level during trading on Wednesday, which of course has been a major support level over the last several months.
The Euro has initially fallen during the trading session on Tuesday, crashing into the 1.10 level yet again which has been reliable support for some time.
The Euro initially tried to rally during the trading session on Thursday but found the area above the 50 day EMA as a little bit too expensive to continue going higher.
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The Euro has continued to do almost nothing during the trading session on Wednesday, as we are simply going back and forth around the 50 day EMA.
The Euro initially tried to rally during the trading session on Tuesday but gave back all of the gains to turn around a break below the 1.11 handle again.
The EUR/USD attempts for a bullish correction during last week's trading did not achieve gains above the 1.1172 level, and with the European currency not getting more catalysts
The Euro has broken down a bit during the trading session on Friday, reaching towards the 50 day EMA.
The Euro rallied a bit during the trading session on Thursday but then pulled back to form a shooting star.
For five consecutive trading sessions, the price of the EUR/USD pair is trying hard to strengthen the opportunity for an upward correction
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The Euro broke higher during the trading session on Wednesday, breaking above the 200 day EMA during the course of the session.
The Euro went back and forth during the trading session on Tuesday, as we continue to bounce around between two of the bigger moving averages that traders follow out there.
The Euro has rallied nicely to kick off the week on Monday, peeking above the 200 day EMA.
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Sign up to get the latest market updates and free signals directly to your inbox.The Euro has rallied slightly during the trading session on Friday as you would expect, considering that the US jobs number missed the expected announcement
The Euro has gone back and forth during the trading session on Thursday, as we are sitting just above the 50 day EMA.
While the Eurozone is anticipated to face similar issues in 2020 as it has over the past decade, the Euro may find itself being pushed to the upside.