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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With the beginning of this week's trading, the EUR/USD is still stable around 1.1655, where it closed last week.
The euro rallied significantly on Friday, only to give up a bit of the gains.
The Euro has rallied a bit during the course of the trading session on Thursday, only to turn around and show hesitation.
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The EUR/USD is still trying to rebound higher, but it is dominated by a cautious correction, as the euro is still suffering from weak investor sentiment.
The euro initially pulled back just a bit on Wednesday but then turned around to show signs of life again.
The EUR/USD has been in a cautious bullish correction range, moving towards the 1.1670 resistance before settling around 1.1640 as of this writing.
The euro rallied significantly on Tuesday to reach towards the 1.1650 level before rolling over and showing signs of exhaustion.
The EUR/USD has been hovering around the 1.1600 resistance the last 4 sessions in an attempt to correct after its recent sharp losses.
The euro initially fell on Monday but turned around to show signs of stability again.
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The EUR/USD is stable below the 1.1600 level to kick off the week as the bears retain control.
The euro rallied significantly on Friday but gave back the gains to turn around and form a shooting star again.
The Euro initially rallied to break above the 1.16 level before turning around and showing signs of hesitation.
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Sign up to get the latest market updates and free signals directly to your inbox.Despite the US Dollar's gains after the high US inflation figures and the FOMC minutes, the EUR/USD couldn't get past the 1.1601 level on Thursday.
The euro rallied significantly on Wednesday to wipe out the losses from a couple of previous sessions.
The EUR/USD is approaching the psychological support level of 1.1500 ahead of important weekly data, namely US inflation numbers and the FOMC minutes.