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 initially fell during the trading session on Wednesday but found enough support near the 1.12 level to turn things around and rally.
The German Economic Sentiment Index, ZEW, fell to an eight-month low with continued pressure on the Euro
During the trading session on Tuesday we have seen the Euro break down rather significantly.
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This week's EUR / USD pair was calm and in a limited range as expected within the 30-point range and limits only as the economic calendar is free of any significant and influential data.
The Euro continues to find resistance, especially near the 1.13 level above.
For three trading sessions in a row, the EUR/USD gains stop around the 1.1280 resistance level awaiting stronger catalysts to continue the bullish correction tone in order to breakout the bearish channel which still strongly stands.
The Euro initially pulled back during the trading session on Friday but found enough buyers underneath the turn things around.
The Euro tried to rally during the trading session on Thursday but found enough resistance above the turn things around and form a massive shooting star.
Global developments, which were a product of the global trade war, have raised doubts about the economic outlook and have strongly contributed to the adjustment of US Federal Reserve monetary policy makers
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The Euro rallied quite stringently during the trading session on Wednesday, reaching much higher after the opening statement by Jerome Powell at the Humphrey Hawkins testimony in front of the United States Congress.
The FX market will watch today, and cautiously, any new signals from the US Federal Reserve about the future of its monetary policy.
The EUR/USD pair initially felt towards the 61.8% Fibonacci retracement level during the day on Tuesday but then turned around to show signs of life again as the 1.12 level has shown itself to be supportive.
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Employers in the United States sharply intensified their employment during June, adding 224,000 new jobs, underscoring the strength of the US economy after more than a decade of steady growth.
The Euro fell significantly during the trading session on Friday, slicing through the 50 day EMA which is a very negative sign.