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 tried to rally during the trading session on Thursday but continues to find selling pressure above the 1.12 handle.
For three consecutive trading sessions, the EUR USD has been holding steady between the 1.1167 support and 1.1249 resistance in a narrow, limited and stable range
The Euro went back and forth during the trading session on Wednesday, as we can’t have any clarity
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EUR/USD's recent bullish correction attempts did not exceed the 1.1249 resistance level recorded during Tuesday's trading session
The Euro went back and forth during the trading session on Tuesday, showing signs of exhaustion, breaking above the 50 day EMA but then turning around to form some type of shooting star.
On Tuesday, the EUR / USD pair continues bullish correction with gains to reaching 1.1250, the highest level in two weeks
The Euro ripped to the upside during the trading session on Monday as the rhetoric between the United States and China has heated up, showing signs of getting worse, not better.
For the third day in a row, the EUR/USD is trying to have a bullish correction after the recent violent bearish wave
The Euro rallied a bit during the trading session on Friday, breaking above the 1.111.
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The Euro has fallen pretty hard during the trading session on Thursday, only to turn back around and bounce.
As expected, the US Federal Reserve cut US interest rates by a quarter point, despite that the US dollar recorded strong gains against other major currencies, as the vote on the cut was not unanimous among the bank's monetary policy members.
The Euro broke down below the 1.11 level during the trading session on Wednesday, after the Federal Reserve had cut interest rates by 25 basis points but did not sound like they were ready to continue cutting in a long sequence of moves.
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The EUR/USD pair did not do a lot for several consecutive sessions and is settling around the 1.1160 level at the time of writing.
Looking at the EUR/USD pair, it’s very likely that we will see a lot of action during the trading session on Wednesday, as the statement and rate decision will move these markets quite drastically as it will move the US dollar in general.