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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Wednesday's session was particularly bearish for the EUR/USD, which fell to the 1.1589 support level from the 1.1690 resistance in the same session.
The euro broke down significantly on Wednesday to reach towards 1.16 level underneath.
Selloffs pushed the EUR/USD towards its lowest levels of 2021 as it moved to the 1.1668 support level and settled around the 1.1682 level as of this writing.
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The euro fell again on Tuesday as we continue to see a lot of downward pressure.
The Euro has drifted lower during the bulk of the month of September, reaching down towards the 1.17 level.
The Euro has fallen significantly during the course of the trading session on Monday to reach just below the 1.17 level.
The euro fluctuated on Friday and pierced the 1.17 level.
The Euro has bounced significantly during the day on Thursday, as the US dollar got sold off overall.
The Federal Reserve's indications yesterday that reducing bond purchases are imminent increased the gains of the US dollar against the other major currencies.
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The euro fluctuated on Wednesday ahead of the FOMC statement.
As previously forecasted, the EUR/USD has been in a narrow range ahead of the Federal Reserve FOMC meeting minutes release today.
The euro initially rallied on Tuesday but has turned quite bearish by the end of the day to form a bit of a shooting star.
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The Euro has fallen significantly during the course of the trading session on Monday, only to turn around and form a bit of a hammer.
The euro rallied initially on Friday but continues to find massive amounts of selling pressure above.
The Euro has broken through major support during the course of the trading session on Thursday as we have broken through the 1.18 level again.