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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For two trading sessions in a row, EUR/USD bears are facing an important support level of 1.1772, its lowest in three months.
The euro rallied significantly during trading session on Wednesday to recover most of the losses on Tuesday.
Despite the European Union’s approval of more stimulus plans to counter the effects of the pandemic, the currency pair EUR/USD suddenly experienced selloffs that pushed it from the resistance level of 1.1875 to the support level of 1.1772, its lowest in three months.
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If the US Dollar Index breaks the 93 handle, the euro is going to be absolutely smoked.
For four consecutive trading sessions, the price of the EUR/USD currency pair is trying to correct upwards.
The euro fell a bit during the trading session on Monday, reaching down below the 1.1850 level.
In the last two trading sessions of the past week, the EUR/USD currency pair attempted to correct upwards, after selling operations that pushed it towards the 1.1781 support level
The euro rallied significantly during the day on Friday to close just below the 1.19 level.
The Euro has recovered a bit during the course of the trading session on Thursday to reach towards the 1.1850 level.
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The Fed’s confidence in the US economic recovery and policy tightening is imminent.
The EUR/USD has stumbled to fresh mid-term lows as important support must be considered by technical traders.
The euro fell a bit against the US dollar during the trading session on Wednesday, as we continue to see downward pressure.
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Prior to the minutes of the last meeting of the US Federal Reserve, the bearish pressure for the EUR/USD currency pair continues with losses to the support level 1.1806 before settling around the 1.1821 level at the time of writing the analysis.
The euro initially rallied during the trading session on Tuesday but then turned around to show signs of weakness again.
Ahead of the announcement of an update to the ZEW Sentiment Index towards the largest and most important German economy in the Eurozone.