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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An important and fateful trading week awaits the exchange rate of the euro currency pair against the US dollar EUR/USD where both the European Central Bank and the US Federal Reserve Bank will announce their monetary policy decisions ending with the announcement of the US jobs numbers.
The Euro has done very little during the trading session on Friday, as it looks like we are starting to run out of momentum.
The continued pressure on the US dollar before the announcement of influential US economic data contributed to the bulls achieving more gains for the EUR/USD up to the resistance level of 1.0926.
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The EUR/USD currency pair has rallied slightly on Wednesday as it looks like we are trying to do everything we can to break above the 1.09 level.
EUR/USD is still strong with signs of tightening on the part of European Central Bank officials led by Lagarde.
The EUR/USD had a choppy session on Tuesday, as we continue to see a lot of nonsensical trading.
The EUR/USD exchange rate entered the new week's trading at its highest level in nine months.
The EUR/GBP rallied a bit during the trading session on Monday, to break into the previous bearish candle that had traders shorting.
Last week's trading in its entirety was characterized by bulls dominating the performance of the EUR/USD currency pair.
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The EUR/USD has been very noisy during the trading session on Friday, showing signs of a little bit of bullish pressure, but quite frankly we are hanging around the same area that we have been around for a while.
The EUR/USD initially tried to rally during the trading session on Thursday but continues to struggle above the 1.08 level.
The inflation figures in the eurozone did not come as a surprise to the markets.
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The Euro initially shot higher during the trading session on Wednesday, but gave bank gain as we continue to see a lot of resistance above.
For three consecutive trading sessions, the price of the EUR/USD currency pair has been moving in a downward correction
The EUR/USD has initially tried to rally during the day on Tuesday but has given back quite a bit of the gain, as the area above the 1.08 level is starting to show a lot of resistance.