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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The Euro initially tried to rally during the trading session again on Wednesday but gave back gains to form a bit of a shooting star.
This is a market that is all over the place and has no idea what it wants to do next.
This week opened like last week closed, as the EUR/USD continued to correct lower towards the 1.1770 support level, the lowest in more than two weeks.
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The euro initially sold on Monday, breaking well below the 1.18 level.
For three trading sessions in a row, the bears have been trying to push the EUR/USD to break the 1.1800 level, which paves the way for a stronger bearish breakout.
The euro initially tried to rally on Friday but gave back the gains to show a less-than-desirable finish for the week.
The Euro has gone back and forth during the trading session on Thursday after the ECB meeting.
It's a decisive day for the euro pairs, with markets and traders awaiting an update of the monetary policy decisions from the European Central Bank.
The euro pulled back during the trading session on Wednesday to test the 1.18 level.
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The Euro initially tried to rally during the trading session on Tuesday but gave back the gains as the 200 day EMA seems to be a bit too much to overcome.
The Euro fell during most of the trading session on Monday, as the 200 day EMA has offered a somewhat significant resistance barrier.
The euro rallied significantly on Friday as the jobs number came out much weaker than anticipated.
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The Euro has rallied significantly during the course of the trading session on Thursday to show signs of life again.
With renewed popularity for the euro and the US dollar’s cautious anticipation of US job numbers, the EUR/USD corrected upwards to the 1.1857 resistance level before settling around 1.1840 as of this writing.
The euro rallied again on Wednesday as we continue to see a lot of upward pressure.