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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Increasing expectations about the future of more strength and times of raising US interest rates brought the US dollar more strength against all other major currencies.
During Wednesday's trading session, the Euro traded in a range, hovering just above the 1.06 level.
During Tuesday's trading session, the Euro saw a slight decline, as the common currency continued to show some weakness.
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The EUR/USD exchange rate erased all of its New Year's gains over the course of February trading but drew support on Friday from the hawkish resolve of the European Central Bank (ECB).
On Monday's trading session, the Euro did very little, and there is a lot of hesitation around the 50-Day EMA.
It was a strong bearish trading week for the performance of the EUR/USD currency pair.
The Euro has dipped again during the training session on Friday, breaking below the 50-Day EMA.
The EUR/USD has gone back and forth during the trading session on Thursday, as we continue to see the 50-Day EMA offer support.
The EUR/JPY has pulled back just a bit during the trading session on Thursday, as we are struggling to go much higher.
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The US dollar rose as better-than-expected retail sales data failed to spark a rally in financial markets.
The Euro has plunged during the trading session on Wednesday as we continue to see a lot of noisy behavior.
The EUR/USD exchange rate witnessed a volatile response to the official figures that revealed rapid increases in American prices for some goods and services.
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The Euro has initially tried to rally during the trading session on Tuesday but ran into a buzz saw of resistance in the 1.08 level.
EUR/USD gave up much of its gains in January in recent trades and is likely to risk a pullback towards support 1.05 this week.
The EUR/USD bounced a bit during the trading session on Monday as we continue to see the 50-Day EMA influence the market.