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 continues to go back and forth, and it looks as if we are likely to see more of the same going forward.
The Euro went all over the place during the day on Thursday as we have the ECB monetary policy statement and of course the press conference afterwards to think about.
The EUR / USD is settling down around 2-month low, reaching to 1.1130 support at the time of writing.
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The Euro fell again during the trading session on Wednesday, as we await the European Central Bank interest rate announcement and press conference during the day on Thursday.
The Euro broke down significantly during the trading session on Tuesday, slicing through the 1.12 level which of course is an area that has attracted a lot of attention.
In the 20-point range, the movements of the EUR / USD pair during yesterday's trading, and we expected calm movements in narrow ranges in the absence of any important data affecting the performance of the pair.
Euro traders had very little to do during the day on Monday, and I wasn’t bothered trading.
At the beginning of this week, the EUR / USD is expected to be trading in a limited range as today's economic calendar has no significant economic data affecting the pair's performance
The Euro fell during the trading session on Friday, perhaps carving out a significant trading ranges again.
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The Euro rallied during the trading session on Thursday, reaching towards significant resistance at the 1.13 level late in the day as it was revealed that the Iranians were willing to make significant concessions on the nuclear talks.
Although the pressure on the US dollar has increased again, the EUR / USD did not benefit greatly from the rebound, which did not exceed 1.1244 at the time of writing.
The Euro initially fell during the trading session on Wednesday but found enough support near the 1.12 level to turn things around and rally.
The German Economic Sentiment Index, ZEW, fell to an eight-month low with continued pressure on the Euro
During the trading session on Tuesday we have seen the Euro break down rather significantly.
This week's EUR / USD pair was calm and in a limited range as expected within the 30-point range and limits only as the economic calendar is free of any significant and influential data.