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 EUR/USD experienced a lack of clear direction during Wednesday's trading session, remaining trapped between the 50-Day Exponential Moving Average and the 1.09 level.
The US Federal Reserve's reaffirmation of the possibility of raising US interest rates.
During Wednesday's trading session, the euro displayed indecisiveness, fluctuating within the range of the 50-Day Exponential Moving Average and the 1.09 level.
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Amid movement in narrow ranges since the start of trading this week with a bearish tendency, the price of the EUR/USD currency pair may be exposed to more fluctuations.
The euro experienced a slight decline during Tuesday's trading session, characterized by a back-and-forth movement.
The EUR/USD exchange rate entered the new week's trading in full swing near its highest levels in two months.
The EUR/USD experienced a slight retracement during Monday's trading session, testing the 50-Day Exponential Moving Average once again.
At the end of last week's trading, the price of the EUR/USD currency pair tried to rebound to the upside, with gains that affected the resistance level at 1.0931, after it collapsed to the support level at 1.0835.
The EUR/USD experienced a slight decline during Friday's trading session, briefly dipping below the 50-Day Exponential Moving Average.
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The EUR/USD initially attempted a rally during Thursday's trading session but faced significant downward pressure.
Since the start of this week's trading, the price of the EUR/USD currency pair has been moving within an upward retracement path
The EUR/USD faced a minor pullback during Wednesday's trading period, remaining closely tethered to the 1.09 mark.
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New hints from European Central Bank policy officials confirm that the bank is determined to continue tightening its policy, which supported new gains for the EUR/USD currency pair.
Recently, the euro experienced a downward movement toward the 50-Day Exponential Moving Average before displaying signs of a potential rebound.
Stability and tight trading is what characterizes the performance of the EUR/USD currency pair since the start of trading this week, amid a bearish momentum