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 rallied a bit during the trading session on Tuesday as we have wiped out the losses from Monday.
The Euro initially rally during the trading session on Monday but has fallen quite a bit from the highs in order to form a less than ideal candlestick.
Most of last week’s trading was marked by the downward correction for the EUR/USD, which pushed it towards the 1.1754 support before stabilizing around 1.1800 at the beginning of this week’s trading.
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The Euro has fallen hard on Friday but remains within the consolidation area that we have been in for some time.
The Euro has gone back and forth during the trading session on Thursday as we continue to see a lot of volatility in general.
The recent strong EUR/USD gains stopped around the 1.1965 resistance, and with technical indicators reaching overbought areas, the profit-taking activities were activated, which pushed the pair towards the 1.1830 support at the time of writing.
The EUR/USD has been displaying a solid bullish trend mid-term, and the price action within the forex pair the past two days demonstrates it can actually produce volatility.
The Euro initially tried to shoot higher during the trading session on Wednesday but has pulled back a bit to show signs of exhaustion above the 1.19 level.
There is a new and exciting move by bulls towards the EUR/USD pair, as it rose towards the 1.1965 resistance, its highest level in two years, before settling around the 1.1930 at the time of writing.
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Spain, Italy, Germany, France, and Sweden are the five most infected Covid-19 countries in the European Union.
The Euro has broken above a significant resistance in the form of the 1.19 level, as the consolidation area that we had been in is finally in our rearview mirror.
For the fifth day in a row, the EUR/USD pair is moving in an upward correction range, which reached the 1.1881 resistance before settling around 1.1870 at the beginning of the trading session on Tuesday.
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The Euro broke higher during the trading session on Monday, reaching towards the 1.19 level above.
The US dollar is desperately trying to make up for its losses against most other major currencies.
The Euro pulled back a bit during the trading session on Friday but has recovered quite nicely to form a green candlestick.