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 fallen a bit during the trading session on Monday, slicing through the 1.10 EUR level in the process.
At the beginning of a new week, the EUR / USD is attempting to maintain a stable move above the 1.1000 psychological level to avoid further downside pressure.
The Euro went back and forth during the trading session on Friday as we continue to see a lot of choppiness overall.
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The Euro went back and forth during the trading session on Thursday, initially trying to rally but gave back most of the gains to form a very ugly looking candle stick.
After cutting interest rates for the first time in more than a decade in late July, the Federal Reserve announced another rate cut after the monetary policy meeting that ended yesterday.
The Euro fell a bit during the trading session on Wednesday, reaching down towards the bottom of the overall consolidation that we have been in for or some time.
As we have mentioned since the beginning of this week’s trading, the EUR / USD will remain in a tight range awaiting the announcement of the Federal Reserve's monetary policy decisions and the comments of its Governor Jerome Powell.
The Euro rallied a bit during the trading session on Tuesday, reaching towards the shooting star from a couple of days ago.
EUR / USD fell back to the 1.0993 support level as the pair failed to overcome the 1.1109 resistance which was successfully tested last week after the ECB announced its monetary policy and introduced more stimulus plans for the Eurozone economy.
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The Euro initially tried to rally during the trading session on Monday but then broke down rather significantly to crash into the 1.10 EUR level.
The EUR / USD rate finally caught the attention of traders by the end of last week's trading once the European Central Bank (ECB) announced massive stimulus plans to revive the Eurozone economy
The Euro initially rallied during the trading session on Friday, reaching towards the 1.11 EUR level, and perhaps just as importantly the 50 day EMA.
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The Euro has been all over the place during the trading session on Thursday as the ECB had a press conference and interest rate decision.
During Thursday's trading, the most important event for the Euro this week will be the monetary policy announcement from the ECB.