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 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.
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.
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The US dollar was the star of the Forex world during the trading session on Monday as there was a major “risk off” situation during the session.
The increase in European Coronavirus infections weakened the attempts of the EUR/USD to correct its highest, as its gains during last week’s trading did not exceed the 1.1875 level.
The euro went back and forth during the trading session on Friday as we limped into the weekend without any real conviction.
The Euro initially tried to rally to kick off the trading session on Thursday but gave back the gains as we ended up falling towards the 1.18 level again.
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.