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 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.
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.
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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.
The euro initially fell during the trading session on Tuesday but then turned around to break above the top of the falling wedge that has been forming for quite some time.
It has been a positive start to this week's trading for the EUR/USD currency pair, but it still lacks strong catalysts.
The euro fell a bit during the trading session on Monday only to turn around and rally towards the top of the wedge.
The continued flight of investors from risk amid fears of the rapid spread of the Corona Delta variable, which threatens the global openness, contributed to a continuous downward pressure for the EUR/USD currency pair.
The euro fluctuated during the trading session on Friday as we continue to see this market slide down a falling wedge.
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The Euro has gone back and forth on Thursday as we continue to trade in a falling wedge, which of course is actually a bullish signal.
Before the European Central Bank announced an update of its monetary policy, the EUR/USD currency pair is trying to correct upwards, settling around the 1.1800 resistance.
The euro initially fell during the trading session on Wednesday but found enough support in the same general region that we have over the last three days to make this market turn around.
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The demand for safe havens is still in favor of the new downside path for the EUR/USD currency pair, down to the 1.1755 support level.
If we break above the top of this wedge, it is a bullish sign and could send the euro higher.
At the beginning of this week's trading, the bears moved strongly like the performance last week.