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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Low risk appetite has compensated the US dollar for its recent sharp losses.
The euro has fallen quite a bit during the trading session on Wednesday as we continue to see noise influencing the market.
As traders returned to the markets after the American holiday, the EUR/USD continued to correct to the upside, but its gains stopped at the 1.2170 resistance level, the highest in two weeks.
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The euro initially tried to rally during the trading session on Tuesday to reach towards the 1.2150 level before pulling back again.
The euro is still lagging far behind the pace of risk appetite that has dominated the markets recently, as gains from the EUR/USD's bullish rebound did not exceed the 1.2150 resistance level.
The euro continues to be rather sideways in general, as we gained ever so slightly during a quiet session on Monday.
The EUR/USD's upward correction path during last week’s trading resulted in testing the 1.2150 resistance level.
The euro fell a bit during the trading session on Friday to reach down towards the 50-day EMA.
The Euro rallied initially during the trading session on Thursday but gave back the gains in order to form a bit of a shooting star.
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Throughout this week's trading, the EUR/USD, was in a bullish correctional range, which pushed it to the resistance level at 1.2144 before settling around 1.2126 as of this writing.
The euro tried to rally a bit during the trading session on Wednesday but gave back the early gains to show a less-than-exciting candlestick.
The euro rallied to break above the previous uptrend line, which should have in theory offered a significant amount of resistance.
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For three trading sessions in a row, the EUR/USD pair is moving in an upward correction range, settling around the 1.2085 level.
The euro rallied again on Monday as we seem to be lacking any real decisive action yet again.
Last week's downward correction pushed the EUR/USD pair to the 1.1952 support level, its lowest in two months, before settling around 1.2050 after the US jobs numbers were announced.