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.
Most Recent
The euro got hammered during the trading session on Friday as interest rates in the United States rallied quite significantly.
The Euro initially tried to rally on Thursday but gave back the gains as we continue to see a bit of a struggle when it comes to the upward momentum.
Yesterday, the forex currency market witnessed some activity, in contrast to the quiet performance in the beginning of trading.
Top Forex Brokers
The euro rolled over during the trading session on Wednesday as Federal Reserve Vice Chair Richard Clarida was more hawkish than anticipated.
Since the start of this week's trading, the price of the euro against the dollar EUR/USD has been moving in a narrow range between the support level of 1.1853 and the resistance level of 1.1897.
The euro initially tried to rally during the trading session on Tuesday but gave back the gains again as we approached the 1.19 handle.
With the beginning of the August trading, the price of the EUR/USD currency pair is still stable near its four-week high.
The euro initially tried to rally during the trading session again on Monday but turned around to show signs of weakness as we rolled over in the same general vicinity.
Throughout the last week's trading, the EUR/USD currency pair was performing amid an upward correction momentum with gains that affected the resistance level 1.1909.
Bonuses & Promotions
The euro initially tried to rally during the trading session on Friday but gave back early gains to show signs of weakness again.
At this point, I think you are going to have a very choppy month of August.
The Euro has broken above the top of the candlestick for the trading session on Wednesday during the Thursday session, as it is now starting to approach the 200 day EMA.
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.
As was expected, the US Central Bank kept its monetary policy numbers unchanged, contingent on the future of tightening its policy with continuous progress towards the goals of growth, employment and inflation.
The euro initially pulled back during the trading session on Wednesday, but as Jerome Powell got done with his press conference, it became obvious that the US dollar was going to get hit.
For five trading sessions in a row, the price of the EUR/USD currency pair is trying to exit the descending channel, which pushed it towards the 1.1752 support level.