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 fell during the trading session on Tuesday but continues to find buyers underneath.
Since the start of trading this week, the EUR/USD has been in a new descending correction range that settled around the 1.2128 level as of this writing.
The euro initially fell during the trading session but continues to find plenty of support underneath, especially near the 50-day EMA.
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For four trading sessions in a row, the EUR/USD pair has been in an upward correctional range, which pushed it to the resistance level of 1.2190 before stabilizing around 1.2170.
The euro initially tried to rally during the trading session on Friday but found enough resistance near the 1.22 level to turn around and form a shooting star.
The Euro rallied a bit during the trading session on Thursday as it looks like we are going to continue to see a certain amount of upward mobility,
The Euro went back and forth during the trading session on Wednesday as we continue to hang on to the 50 day EMA.
With the inauguration of US President Joe Biden, the US dollar gained some support and gains against the rest of the other major currencies.
For the second day in a row, the EUR/USD pair is trying to correct to the upside, having stabilized around the 1.2155 resistance level as of this writing.
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The euro rallied significantly during the trading session on Tuesday as we bounced from the 50-day EMA.
The EUR/USD pair had a bearish start to the week, retreating to the 1.2053 support level and stabilizing around 1.2080 as of this writing, ahead of the important German ZEW Index readings.
The euro initially fell during the trading session on Monday, but has recovered quite nicely as there does not seem to be a huge push to break it down in the short term.
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The Euro fell rather hard during the trading session on Friday, as we have broken down towards the 50 day EMA.
The Euro has gone back and forth during the course of the trading session on Thursday, forming a bit of a neutral candlestick,