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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US retail sales numbers joined the list of releases which are fueling expectations of a raising of US interest rates soon.
The euro initially tried to rally on Tuesday but gave back the gains to go looking towards the 1.13 level.
The EUR/USD continued its biggest decline since late September last week.
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The euro plunged yet again on Monday to slice below the 1.14 level.
The downward trajectory of the EUR/USD price is getting stronger due to long-term bearish pressure factors.
The euro went back and forth on Friday to show a bit of hesitation down at the 1.1440 level.
The Euro has fallen again during the trading session on Thursday, as the European Central Bank ponders whether or not to do anything.
US inflation recorded a sharp jump that may force the US Federal Reserve to move faster than the markets expected, and the US dollar returned to steal more gains against the rest of the other major currencies.
With the US dollar's gains stalled, the EUR/USD rebounded higher, but the gains did not exceed the 1.1608 level and the pair settled around 1.1582 as of this writing.
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The euro went back and forth on Tuesday, to test the 1.16 level yet again.
For the second day in a row, the bulls are trying to bring the EUR/USD out of its bearish channel as the pair settled around 1.1606 and the bears moved the price to the 1.1513 support area, the lowest in more than 15 months.
The euro had a very interesting day on Friday, turning around to form a hammer.
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The euro initially fell on Friday but recovered after the jobs figure.
The Euro has fallen a bit on Thursday, reaching towards the 1.1525 level.