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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Today’s trading started off positive for EUR/USD as the pair jumped to the resistance level of 1.1247. It is bouncing back from the 1.1122 support level that it recorded last week
The euro shot higher against the US dollar on Monday, gaining a bit over 8/10 of a percent.
With the beginning of the new week’s trading, the price of EUR/USD is still suffering from downward pressure.
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The euro went back and forth on Friday as we tried to stabilize after the massive selloff during the Thursday session.
The Euro has broken down rather significantly during the course of the trading session on Thursday as we continue to see a lot of negativity out there.
The US Federal Reserve returned to confirm its intention to raise US interest rates starting from the next March meeting.
The euro initially tried to rally on Wednesday but gave back gains most of the day.
It is normal for the price of EUR/USD to move amid a downward momentum ahead of the most important event for global financial markets.
The euro stabilized a bit on Tuesday after initially dumping.
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The EUR/USD exchange rate recovered in early January last week when global market volatility and heavy selling in US bonds wrecked the yield advantage that could keep the US dollar and Euro weak.
The euro sold off rather significantly on Monday but also bounced a bit to form a hammer.
During last week's trading, the price of the EUR/USD currency pair was exposed to selling operations that are considered profit taking
The euro rallied a bit on Friday as we have been bouncing around the same area for the last three days or so.
In the middle of this week's trading, the EUR/USD currency pair attempted to recover from the selling operations from the beginning of the week that pushed it towards the 1.1315 support level.
The euro rallied just a bit on Wednesday as we are trying to hang on to the idea of rallying.