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 EUR/USD pair continued to bounce around in the relatively tight range that we have seen for several months during the month of February.
This pair seems caught in a long-term consolidation and enjoys only limited price movement, the current signs are that this is likely to continue during February, but a lot will depend upon how this current week closes.
This cross has been established in a strong long-term uptrend since the summer of 2012, and has been rising strongly in its recent leg to reach a five-year high, but it is beginning to show signs of weakening or at least slowing.
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The EUR/USD pair fell during the month of January, but you can see still remains locked in a fairly tight range. Essentially, with the exception of a little bit of a breakdown during the illiquid month of December, this market has been stuck between 1.35 and 1.38 for the last four months.
The EUR USD pair has been trapped in a relatively sizable range for several weeks now, and going into the month of January I do not expect to see a whole lot of change to that pattern.
The EUR/USD pair has been a real pain for a lot of traders over the last couple of years. One look at the monthly chart attached, and you can see that we aren’t really in a consolidation area, (rectangle) but we are in something that look consolidative with a slightly negative attitude. In other words, this is an ugly chart.
The EUR has gained strength for the fifth consecutive week reaching 1.3811, an all time high in the last 6 weeks. The pair ended the week with a slight decline; closing at 1.3736.
The NFP was released on Friday, showing that the US added more jobs than expected in November; rushing the EUR to a 5 week high against the USD. The pair reached a high of 1.3721 and closed at 1.3705.
The EUR/JPY pair has been on fire lately. Because of this, I certainly cannot advocate selling it at all, and as a result I won’t even entertain a short position – no matter how parabolic the market gets.
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Be prepared for the upcoming month of December with this forecast of the EUR/USD pair.
Check out the EUR/USD forecast for the upcoming November 2013 month.
The EUR/JPY pair is Chris's favorite pair to trade. Find out why in this forecast for the upcoming month of October here.
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Sign up to get the latest market updates and free signals directly to your inbox.What is in store for the EUR/USD pair for the month of October? Check out the Forex forecast here and be prepared for the upcoming month.
Forecasting an entire month in advance can be tricky, as it is really too short a period to apply fundamental analysis, but long enough for plenty of unforeseen events to happen that can blow any technical prediction off course.
Check out this EUR/USD Forex forecast for the second quarter here as it is fast approaching. The experts at DailyForex.com have all the information you need to be prepared.