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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October 18, 2023, Analysis euro price against the dollar EUR/USD.
The exchange rate of the euro currency pair against the US dollar stabilized under downward pressure, stable around the support level of 1.0500.
The EUR/USD, the common currency of the European Union, witnessed a fluctuating start to the trading week, with a key level at 1.05 holding significant importance for traders.
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The US dollar resumed its gains against other major currencies as investors flocked to buy it as a safe haven.
In Thursday's trading session, the euro experienced a significant decline in response to higher-than-anticipated CPI numbers.
Since the start of this week's trading, the overall performance of the price of the currency pair EUR/USD has been in attempts to move upward.
The euro dollar currency pair experienced a sudden surge on Wednesday, only to give back some of its gains as the PPI numbers delivered a surprise.
The price of the EUR/USD currency pair is still trying to rebound higher, but its gains did not exceed the resistance level of 1.0620.
At the beginning of this week's trading, investors returned to buying the US dollar again as a safe haven amid the successive tensions in the world emanating from the oil-rich Middle East region.
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The euro's attempt to stage a rally during Monday's trading session ultimately gave way to concerns surrounding global risk appetite.
Despite the stronger US jobs numbers, the price of the euro currency pair against the US dollar EUR/USD succeeded in closing a bullish weekly
The EUR/USD started on Friday with an attempt to rally, only to falter, revealing signs of vulnerability yet again.
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Sign up to get the latest market updates and free signals directly to your inbox.In the recent trading session, the euro attempted a rally, only to retract some gains almost immediately.
For two days in a row, and amid weak attempts to rebound upward, the price of the currency pair EUR/USD is trying to compensate for its sharp losses.
The downward path of the EUR/USD currency pair was the most prominent during this week, as the EUR/USD pair moved towards the 1.0448 support level, its lowest during the year 2023.