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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As this week's trading began, the turmoil caused by Trump's trade policies has somewhat subsided, allowing the EUR/USD currency pair to rebound, reaching 1.0607 at the time of writing this analysis.
The US Federal Reserve's affirmation of not rushing to cut interest rates, coupled with Trump's election victory, has extended the US dollar's gains.
The EUR/USD exchange rate tumbled to a low of 1.0495, its lowest level since October 6, 2023, as the risk-off sentiment continued following Donald Trump’s victory. It traded at 1.0540 on Monday morning, ahead of key economic data.
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During my daily analysis of the EUR/USD pair, the first thing that I notice is the fact that we have bounce from a crucial large.
Alongside the anticipated Trump policies - a stronger US dollar - US inflation figures came in stronger than expected.
The EUR/USD pair continued its strong bearish trend, falling to its lowest level since November 2023 after the US published the October inflation data.
The stronger US dollar policy is bringing more losses to the EUR/USD currency pair, which has reached the support level of 1.0595, the lowest for the currency pair in the forex market during 2024.
Trump's trade policies continue to support further gains for the US dollar against other major currencies.
At the end of last week, the Euro attempted to recover from its strong losses against the US Dollar amid the strength of the latter following Trump's re-election as US President.
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The Euro initially pulled back just a bit during the trading session on Friday. As we continue to see plenty of support underneath at the 1.07 level, I think we see so much in the way of support that it is going to be difficult to break down below here.
The Republican clean sweep of the US Presidency and Senate boosts the US Dollar strongly, sending this currency pair plummeting to a new multi-month low, although the price may be finding a bottom near $1.0700.
As you can see, the Euro has rallied a bit during the trading session with the 1.07 level offering a significant amount of support.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD exchange rate remained in focus following reports that former US President Donald Trump is set to return to the White House.
With Trump securing the U.S. presidential win and Pennsylvania confirming his victory, forex market volatility remains heightened.
The EUR/USD exchange rate has settled just below 1.09 ahead of the all-important US presidential vote, but a Donald Trump victory would spark major selling pressure on the currency pair once again.