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 had a relatively good end of the year for 2020, so it is likely that we will see a bit of exhaustion in this general vicinity.
With the holiday season approaching, investor risk appetite is growing, and thus the dollar's price is declining.
The euro rallied significantly during the trading session on Wednesday, reaching towards the 1.22 level before pulling back a bit.
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For three trading sessions in a row, the EUR/USD pair has been moving in a downward correction range.
The euro initially tried to rally during the trading session on Tuesday as the Brexit negotiations continue to fail when it comes to a resolution.
Risk currencies were subject to declining price gaps at the beginning of trading this week, amid fears of new strains of a COVID-19 virus.
The euro broke down significantly during the trading session on Monday amid global concerns surrounding the coronavirus mutation in the United Kingdom.
With the holidays approaching, investors prefer to make profits, especially after recent record gains.
The euro pulled back a bit during the trading session on Friday, but it looks as if we are simply trying to hover and consolidate after a massive explosion to the upside.
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The Euro exploded to the upside during the trading session on Thursday, as we continue to see the US dollar get battered on stimulus hopes.
The increasing pressure on the US dollar gives the EUR/USD an opportunity to continue achieving stronger gains.
The euro rallied during the trading session but was very volatile, which would be expected on a day when the Federal Reserve and stimulus talks are going on simultaneously.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD pair may maintain its recent gains pending the monetary policy decisions from the US Federal Reserve, which will be announced later on Wednesday.
The euro initially fell during the trading session on Tuesday but turned around to show signs of strength again as we approach the 1.2150 level.
Similar to last week’s performance, the EUR/USD pair completed the upward correction, which is the closest to the last resistance level of 1.2177, its highest since April 2018.