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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In the middle of this week's trading, the EUR/USD currency pair attempted to recover from the selling operations from the beginning of the week that pushed it towards the 1.1315 support level.
The euro rallied just a bit on Wednesday as we are trying to hang on to the idea of rallying.
For the fourth day in a row, the price of the EUR/USD currency pair is moving amid a bearish correction that was launched towards the support level 1.1315.
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The euro initially tried to rally on Tuesday, but above the 1.14 level we have seen a lot of selling pressure, and then turned around quite drastically.
The price of the EUR/USD currency pair quickly rose to a two-month high last week, leaving the impression of a bullish reversal in its wake on the charts.
The euro pulled back a bit on Monday as liquidity may have had its part to play during the Martin Luther King Jr. holiday in the United States.
The EUR/USD exchange rate fell lower in the last session of last week's trading, but its three-day rally earlier painted a more positive picture on the EUR charts.
The euro initially tried to rally on Friday but ran into resistance at the same spot that we did during the Thursday session that ended up forming a shooting star.
The Euro has rallied a bit during the course of the trading session on Thursday to break above the 1.1450 level.
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The EUR/USD exchange rate moved towards the top of its December-January range at 1.1370 following another broader dollar turnaround after the Federal Reserve Chairman said there was no rush to reverse the quantitative easing program.
The euro has finally broken out against the US dollar, cleanly wiping out the 50-day EMA and even breaking above the 1.14 handle.
US Central Bank Governor Jerome Powell hints that a faster increase in inflation may negatively affect the recovery of the US labor market.
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The Euro has rallied a bit during the course of the trading session on Tuesday as Jerome Powell spoke in front of the United States Senate.
The EUR/USD price gave itself a resilient account for the new year's opening.
At the end of last week's trading, the price of the EUR/USD currency pair moved upwards towards the resistance level 1.1365.