The Euro rallied significantly during the trading session on Monday, reaching towards the 1.1250 level.
Technical Analysis
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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At the beginning of this week, the EUR/USD pair will have modest trading in a limited range due to an economic calendar empty of important data and a holiday for US banks.
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Since the beginning of this week's trading, ahead of the announcement of the US Federal Reserve last meeting, the EUR/USD is still under strong downward pressure
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The bearish momentum continues to dominate the performance of the EUR/USD as the single European currency continues to lose confidence amid the slowing of the Eurozone economy led by Germany as global trade wars continue.
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Last Friday, CPI figures were released in the Eurozone.
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The resurgence of German economic growth and stability in the Eurozone was offset by the weakness of the ZEW Economic Sentiment Index for Germany and the Eurozone,
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Weakness of the ZEW Economic Sentiment Index for Germany and the EuroZone Contrary to expectations of improvement, increased the pressure on the Euro
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The Euro has been very volatile as of late, as we continue to chop around a major level.
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To be honest, I am a bit surprise that we managed to break below the 1.12 level as it look like it was going to hold.
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The Euro initially rallied during the trading session after the tweeting of President Trump suggested that there was going to be further tariffs placed upon the Chinese.
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The Euro rallied a bit during the trading session on Tuesday, breaking above the significant 1.12 level.
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The Euro broke higher during the trading session on Monday, reaching towards the crucial 1.12 resistance barrier.
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The Euro initially tried to rally during the trading session on Tuesday but ran into a buzz saw of resistance near the 1.13 level, and of course there was a lot of negativity when it came to risk appetite in general, and that of course sent traders looking for the US dollar.
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The Euro rallied significantly during the trading session on Monday, breaking above the short term resistance that has been rather stringent over the last several days.
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The Euro went back and forth during the trading session on Friday as you would expect because of the jobs figures in America being released.
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