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 bullish rebound gains for the EUR/USD currency pair last week that culminated in testing the resistance level 132.70, are subject to setbacks at the beginning of this week's trading.
The euro has fallen a bit during the course of the trading session on Tuesday to pierce the 1.19 level to the downside.
For five trading sessions in a row, the price of the EUR/USD currency pair is moving in limited ranges between the support level of 1.1902 and resistance level.
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The euro fell a bit during the trading session on Monday but did recover some of the losses.
I suspect that the month of July is going to be very noisy, but it may also be a decisive one for what happens next in the euro.
Throughout the last week’s trading, the price of the EUR/USD currency pair was in an upward correction range, but it did not find the momentum to be strong.
I think that we are close to making some type of bigger decision.
The Euro rallied initially during the trading session on Thursday but gave back the gains at the 200 day EMA just as we did during the trading session on Wednesday.
Since the start of this week's trading, the EUR/USD is trying to correct upwards.
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The euro fluctuated during the trading session on Wednesday as we continue to hang around the 200-day EMA.
Since the start of this week's trading, the price of the EUR/USD has been trying to correct upward and compensate for its sharp losses recently, to reach the 1.1848 support level.
The euro has initially fallen a bit during the trading session on Tuesday, but then turned around to show signs of strength as Jerome Powell testified in front of Congress.
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For the second day in a row, the price of the EUR/USD currency pair is trying to correct upwards after sharp selling operations that pushed it towards the 1.1847 support level.
The euro rallied a bit during the trading session on Monday to recover quite nicely.
The US Central Bank's announcement this week brought the EUR/USD currency pair a sharp downward momentum that caused the currency pair's worst weekly performance since March 2020.