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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European leaders agreed to nominate Lagard, director of the International Monetary Fund (IMF), for the post of governor of the European Central Bank, replacing Mario Draghi, whose term expires in October.
The Euro went back and forth during the trading session on Wednesday, showing signs of stability and uncertainty around the 50 day EMA.
Since the beginning of this week’s trading, the EUR / USD pair has been in a bearish correction as the US dollar gained enough support
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The Euro initially fell a bit during the trading session on Tuesday but then turned around to rally from the 50 day EMA to reach above the 1.13 level.
We mentioned in the previous technical analysis that the bullish correction for the pair is still weak and is expected to decline again if the Euro does not find stronger catalysts.
The Euro got absolutely hammered during trading on Monday as we came back to work.
Before the announcement of important US GDP figures, the EUR / USD pair is stabilizing around the support level of 1.1348 after the last bounce to reach the 1.1411 resistance level, the highest in three months.
The EUR / USD recent gains have stopped at the 1.1411 resistance level, the highest in three months, with the USD back to express itself and the pair retreated to 1.1343 support despite the negative US economic figures.
Since the beginning of this week's trading, the EUR/USD pair is continuing making gains, reaching towards the 1.1411 resistance level at the time of writing, the highest level in three months.
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The Euro went back and forth during the trading session on Tuesday, breaking above the crucial 1.1250 level.
The Euro rallied significantly during the trading session on Monday, reaching towards the 1.1250 level.
At the beginning of this week, the EUR/USD pair will have modest trading in a limited range due to an economic calendar empty of important data and a holiday for US banks.
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Sign up to get the latest market updates and free signals directly to your inbox.Since the beginning of this week's trading, ahead of the announcement of the US Federal Reserve last meeting, the EUR/USD is still under strong downward pressure
The bearish momentum continues to dominate the performance of the EUR/USD as the single European currency continues to lose confidence amid the slowing of the Eurozone economy led by Germany as global trade wars continue.
Last Friday, CPI figures were released in the Eurozone.