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 rallied a bit during the trading session on Thursday but gave back about half of the gains in a sign of just how soft this pair is.
The EUR/USD pair broke down significantly on Tuesday again, breaking down below the 1.19 handle, and reaching below the 1.1850 level at one point during the session.
The EUR/USD pair was sideways most of the month of April, but then broke down significantly to crash into the 1.21 handle.
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The EUR/USD pair went back and forth during the trading session on Tuesday, forming a bit of a neutral candle.
The EUR/USD pair rallied during the trading session on Monday, as we came back from the weekend with a bit of a sigh of relief after the situation in Syria doesn’t seem to be escalating.
The EUR/USD pair had a volatile session on Friday, initially trying to break above the 1.2350 level, but then pulling back only to bounce again.
The Euro went back and forth during the trading session on Wednesday, as we continue to be very noisy.
The EUR/USD pair has gone sideways during most of the last couple of months, as we have consolidated between 1.21 and 1.25.
The EUR/USD pair pulled back slightly during the trading session on Monday but found the 50-day EMA supportive enough to turn around and shoot to the upside.
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The EUR/USD pair pulled back slightly at the beginning of the session on Friday but turned around to show signs of support again.
The EUR/USD pair broke down significantly during the trading session on Thursday, breaking down below the bottom of the hammer that had seen support at the 50-day EMA during the Wednesday session.
The EUR/USD pair initially rally during the trading session on Thursday, but then rolled over rather drastically as the ECB policy statement suggested that perhaps we may see less quantitative easing, but that isn’t coming soon.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD pair has gone back and forth during the trading session on Wednesday, as we continue to see softness in the market.
The Euro was noisy during the month of February, and I believe it will continue to be. See the forecast for the month of March 2018 here.
The EUR/USD pair has been explosive to the upside over the last month or so, and more importantly, has broken above the top of a weekly bullish flag.