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 rather significantly on Friday to wipe out all the losses from Thursday.
The Euro has broken down below the 1.20 level during the trading session on Thursday, as it looks like we are going to continue to see a lot of volatility in this pair.
The bearish path that the EUR/USD pair is traversing is getting stronger, with the pair approaching the psychological support level at 1.2000.
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The euro fell initially during the trading session on Wednesday to reach down towards the psychologically important 1.20 level.
As we await of the release of Eurozone inflation figures, the EUR/USD is struggling not to collapse below the 1.2000 psychological support level.
The euro initially tried to rally during the trading session on Tuesday but found the 50-day EMA to be a bit too resistive to continue going higher.
The EUR/USD had a bearish start to the week as it plummeted to the 1.2058 support level, the same level tested last week, with 1.2000 as the next target.
The euro broke down significantly during the trading session on Monday to reach down towards the 1.2050 level yet again.
The bearish performance of the EUR/USD pushed the pair to the 1.2058 support level last week, but cut its losses and closed the week’s trading around the 1.2135 level after trying to rebound to the 1.2160 resistance.
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The euro continues to fluctuate overall, as we are simply riding along the 50-day EMA.
The Euro has initially fallen during the trading session on Thursday only to turn around and show signs of life again.
The EUR/USD is still within a downward correction range, having plummeted to the 1.2058 support level in yesterday's session before settling around the 1.2100 level as of this writing.
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The Euro fell initially during the trading session on Wednesday, but we have seen the market recover by the end of the day.
The euro has been bullish against the US dollar over the last couple of months, but the month of January left a lot to be desired.
Strong moves in the EUR/USD pair are expected as markets and investors await monetary policy decisions by the US Federal Reserve.