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 has rallied again during the early hours on Wednesday against the British pound, as we continue to see the British pound suffer at the hands of volatility.
May 09, 2024, Analysis of euro price against the dollar EUR/USD
Amid the performance of the currency pair in Forex currency trading companies, EUR/USD may take cues from tomorrow's US initial jobless claims report and the University of Michigan's preliminary US consumer sentiment index on Friday.
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The euro initially fell a little bit during the trading session on Tuesday, but then turned around to rally towards the 200 day EMA.
According to recent trading, the euro appears increasingly ready to test some upside targets against the US dollar in the coming days, thanks to a strong reaction to the US jobs report on Friday.
The euro rallied slightly during the early hours on Monday as it looks like we are threatening the 200 day EMA.
The EUR/USD currency pair extended gains to the resistance level 1.0812 on the back of weaker-than-expected US jobs data and settled around 1.0760 at the start of trading this week
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.
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The EUR/USD pair remained steady around 1.0715 despite the US Federal Reserve's announcement and comments from Fed Chair Jerome Powell.
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.
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Sign up to get the latest market updates and free signals directly to your inbox.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.