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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Throughout last week's trading, the EUR/USD was in a positive upward correction range amid investor optimism that Joe Biden would beat Trump in the US presidential elections.
The Euro has pulled back slightly during the beginning of the session on Friday, but then shot straight up to reach towards 1.19 level.
The Euro rallied rather significantly during the trading session on Thursday, reaching towards the 1.1850 level as traders await the finalize results of the US election,
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For three trading sessions in a row, the EUR/USD pair is trying to rebound higher in light of the pressure on the US currency, which awaits the final results of the dramatic US elections.
After the volatility that we have seen due to the US election, the Euro has been all over the place.
As expected, the forex trading market may witness a state of instability until the official announcement of the US presidential election results.
The Euro has rallied significantly during the trading session on Tuesday, reaching above the 1.17 level in order to reach towards the 50 day EMA.
The uncertainty of the winner of the US presidential elections, which will be held today, increases the strength of the US dollar as a safe haven.
The Euro initially tried to rally during the trading session on Monday, but then broke down again.
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There is no doubt that this week will be an important one and will have a strong impact on the performance of global financial markets, including forex.
The Euro initially tried to rally during the trading session on Friday, but then gave back quite a bit of the gains as soon as we got close to the psychologically and structurally important 1.17 handle.
The Euro initially tried to rally a bit during the trading session on Thursday, but then broke down as the 50 day EMA offered a bit of resistance.
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The Euro has fallen a bit during the trading session on Wednesday, to reach down towards the 1.17 level.
Ahead of the European Central Bank meeting scheduled for Thursday, there are expectations that the bank may direct a state of unease with the Euro gains in the exchange market and amid new strict restrictions for European countries to contain records of Coronavirus cases.