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 euro rallied significantly during the trading session on Wednesday but gave up gains above the 1.19 handle.
The retracement gains of the EUR/USD pair's upward correction were capped by a test of the 1.1878 resistance level, which the pair is near as of this writing.
The EUR/USD price rally continued in the Asian session ahead of the European Services PMI numbers and FOMC minutes.
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The euro has broken to the upside during the trading session on Tuesday to clear the 200-day EMA.
The EUR/USD pair's bounce gains were capped as Forex investors temporarily abandoned the dollar by testing the 1.1820 resistance level before stabilizing around 1.1810 at the beginning of Tuesday's trading.
The Euro initially pulled back a bit during the trading session on Monday, but then turned around to rally quite significantly.
The euro pulled back ever so slightly during Good Friday, which featured a lot less volume as usual.
Better-than-expected results from recent US economic data, especially with regard to the labor market, helped the US dollar achieve more gains before the market holiday.
The Euro bounced significantly during the trading session on Thursday as the 1.17 level has offered significant support.
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The EUR/USD has been dominated by a bearish outlook for several trading sessions in a row, stabilizing around the 4-month low support level of 1.1704.
The Euro initially tried to rally during the trading session on Wednesday but gave back the gains to form a bit of an inverted hammer.
The bearish momentum of the EUR/USD continued, reaching a 4-month low at the 1.1710 support, as the pair trades in the last session of Q1 2021.
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The Euro has fallen hard during the course of the trading session on Tuesday to reach down towards the 1.17 level.
The Euro has seen a serious drop during the month of March, and it looks very likely to continue into the month of April, at least initially.
The EUR/USD has stabilized around the 1.1760 support level, the lowest in four months, as of this writing.