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 initially shot higher during the course of the trading session on Tuesday but found the 1.22 level as resistive.
At the beginning of this week's trading, the EUR/USD pair continued its correction to the upside, with gains that reached the 1.2178 resistance level.
The euro was very quiet during the trading session on Monday as traders came back to work and sold off the US dollar against most other things, but the euro lagged.
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In a sudden development at the end of last week's trading, the EUR/USD moved strongly to the resistance level of 1.2172 where it closed the week’s trading.
The euro rallied significantly during the trading session on Friday, breaking above the 1.2150 handle.
The Euro rallied significantly during the course of the trading session on Thursday as the 1.20 handle has offered enough support to keep the market going.
Since the start of trading on Thursday, the EUR/USD is trying to correct upwards after four bearish trading sessions that pushed the pair to the 1.1986 support level, settling around 1.2045 as of this writing.
The euro went back and forth during the trading session on Thursday in a very tight range, essentially going nowhere.
For three trading sessions in a row, the EUR/USD is moving in a downward correction range amid profit-taking selling.
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The euro fell during most of the trading session on Tuesday to reach down towards the previous downtrend line and find support.
For three trading sessions in a row, the EUR/USD is trying to stop recent losses that pushed it towards the support level of 1.2013 before settling around 1.2030 as of this writing.
The euro recovered quite nicely during the trading session on Monday as it tested the previous downtrend line.
By the end of last week's trading, the EUR/USD pair plunged to the support level of 1.2016, and its upward correction gains pushed the pair to the resistance level of 1.2150, a 2-month high.
The euro broke down significantly during the trading session on Monday to reach towards the previous downtrend line that we have broken.
The Euro initially tried to rally during the trading session on Thursday but gave back the gains to form a bit of a shooting star