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 during the trading session on Wednesday, testing the 1.10 level.
The Euro bounced slightly during the trading session on Tuesday, showing the 1.10 level to be supportive.
Economic data out of the Eurozone has been mixed with a bearish bias, mirrored by the US.
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The Euro initially tried to rally during the trading session on Monday but found enough resistance yet again to turn around and form a bit of a negative looking candle
The Euro continues to try to break down through the 1.10 level, as the market has shown itself to be extraordinarily negative.
The Euro initially tried to rally during the trading session on Thursday but gave back quite a bit the gains as we get close to the 1.11 level.
EUR/USD is carefully quiet for two sessions in a row, the pair is moving between the 1.1053 support and the 1.1083 resistance above.
The Euro initially fell during the trading session on Wednesday, but then turned around to show signs of life again.
The US dollar returned to rise again, and therefore, stopped EUR/USD gains which is stable around the 1.1072 level at the time of writing
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Fundamental differences between the US and China are evident which places the phase one trade truce in jeopardy
The Euro initially tried to rally during the trading session on Tuesday but did run into a bit of sluggish opposition near the 1.11 level.
For three trading sessions in a row, the EUR/USD price is moving in an upward correctional performance with gains reaching 1.1090 resistance,
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In the last two trading sessions of last week, the EUR/USD pair tried to correct higher, but the gains did not exceed the 1.1056 level and ended the week's trading near it.
The Euro rallied during the trading session on Friday, reaching above the 50 day EMA in a sign of strength.