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 Monday to kick off the week, reaching towards the 1.11 level.
In the last two trading sessions of last week, the EUR/USD pair tried to correct higher, but the gains did not exceed the 1.1056 level and ended the week's trading near it.
The Euro rallied during the trading session on Friday, reaching above the 50 day EMA in a sign of strength.
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The Euro initially fell a bit during the trading session on Thursday, breaking below the 1.10 level before rallying significantly and reaching towards the 50 day EMA.
For eight trading sessions in a row, the price of the EUR/USD continues the downward correction, crossing the 1.1000 psychological support,
The Euro has gone back and forth during the trading session on Wednesday, as there is a lot of noise surrounding the Euro, and of course the US dollar.
Despite the improvement in investor sentiment towards the largest economy in the Eurozone, the EUR/USD continued its decline
The Euro initially tried to rally during the trading session on Tuesday, reaching towards the 50 day EMA.
Earlier in the week, the EUR/USD pair struggled to avoid falling to the 1.1000 psychological support, so as not to sell further.
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As the Eurozone economy is poised for more weakness in the years ahead, analysts try to determine how low the EUR/USD may fall.
The Euro sold off during the trading session on Friday again, as the US dollar continues to strengthen against the Euro based upon a multitude of reasons
The Euro initially tried to rally during the trading session on Thursday but gave back the gains to rollover as the 1.11 level has offered enough resistance to turn things around.
For four consecutive trading sessions, the EUR/USD is under downward pressure pushing it towards the 1.1055 support, its lowest level in three weeks.
The Euro initially tried to rally during the trading session on Wednesday but gave back the gains a turnaround and form a bit of an inverted hammer.
The Euro broke down significantly during the trading session on Thursday, as the ISM Non-Manufacturing PMI figures have been much better than anticipated.