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 shot higher during the trading session on Friday, but we turned around to show signs of hesitation.
The Euro initially tried to rally a bit against the US dollar during the early hours on Thursday, but we continue to hang around the 1.07 level.
The EUR/USD pair remained steady around 1.0715 despite the US Federal Reserve's announcement and comments from Fed Chair Jerome Powell.
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The EUR/USD price quickly gave up its gains yesterday, which reached the resistance level of 1.0735.
EUR/USD is at risk of further weakness over the next five days, especially if eurozone inflation data comes in below expectations.
EUR/USD prices attempted a rebound last week, reaching the 1.0753 resistance level. However, the dollar recovered convincingly after consumer spending data show
The euro rallied a bit during the trading session on Thursday, breaking above the 1.37 level.
After gains this week, the EUR/USD exchange rate is expected to be better protected against further weakness.
Since the start of trading this week, the EUR/USD Euro to US Dollar price has been on an upward retracement path.
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The EUR/USD was all over the place during the early hours on Tuesday as we continued to consolidate in general.
The EUR/USD is expected to trade higher this week, although the bigger picture is still one of weakness at the 1.05 psychological support level.
Throughout last week's trading, the EUR/USD attempted to rebound but its gains were limited and failed to surpass the 1.0700 level.
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The euro has gone back and forth during the course of the trading session on Friday.
For three trading sessions in a row, the price of the euro against the US dollar (EUR/USD) is trying to rebound higher, but its gains did not exceed the level of 1.0680.
Ahead of the release of inflation figures for the eurozone, expectations have increased about the proximity of the date of cutting interest rates with the exclusion of the US Federal Reserve.