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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Since the start of trading this week, the EUR/USD Euro to US Dollar price has been on an upward retracement path.
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.
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Throughout last week's trading, the EUR/USD attempted to rebound but its gains were limited and failed to surpass the 1.0700 level.
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.
Amid a pessimistic outlook, the heavy losses suffered by the euro price last week against the US dollar open the door to further declines in the coming days.
The EUR/USD fell to a five-month low of 1.0622 support amid risk aversion and a negative outlook for the future of ECB policy at the end of last week's trading.
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The euro had a very rough Friday, as we broke below the crucial 1.07 level.
Stronger-than-expected US inflation figures and signals of continued tightening of US central bank policy helped bears drive the EUR/USD currency pair towards the 1.0726 support level in Thursday's trading ahead of the European Central Bank's announcement.
Since the start of trading this week, the EUR/USD currency pair has been attempting to rebound upwards.
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By the end of last week's trading, the EUR/USD currency pair declined below the support level of 1.0800, with losses extending to the 1.0791 support level.
The Euro initially fell during the trading session on Friday, slicing through the 200 day EMA before turning around and rallying again, all things being equal.
The euro rallied a bit during the trading session on Thursday, as we continue to see a lot of recovery from the bottom of the overall consolidation area.