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 pulled back just a bit during the trading session on Friday. As we continue to see plenty of support underneath at the 1.07 level, I think we see so much in the way of support that it is going to be difficult to break down below here.
The Republican clean sweep of the US Presidency and Senate boosts the US Dollar strongly, sending this currency pair plummeting to a new multi-month low, although the price may be finding a bottom near $1.0700.
As you can see, the Euro has rallied a bit during the trading session with the 1.07 level offering a significant amount of support.
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The EUR/USD exchange rate remained in focus following reports that former US President Donald Trump is set to return to the White House.
With Trump securing the U.S. presidential win and Pennsylvania confirming his victory, forex market volatility remains heightened.
The EUR/USD exchange rate has settled just below 1.09 ahead of the all-important US presidential vote, but a Donald Trump victory would spark major selling pressure on the currency pair once again.
The Euro to the US Dollar (EUR/USD) exchange rate recorded its first weekly gain in five weeks after disappointing US jobs figures reinforced bets on a rate cut by the Federal Reserve.
Oct 31, 2024, Analysis of euro price against the dollar EUR/USD
Since the start of this week, the EUR/USD exchange rate has been trading in a neutral range with a slight bearish tendency, stabilizing around and below the support level at 1.0800.
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During my daily analysis of the EUR/USD pair, I can see that the 1.08 level continues to be important.
The previous weekend saw some recovery in the euro, suggesting that the dollar's appreciation trend may be nearing exhaustion.
During my daily analysis of the EUR/USD pair, the first thing I see is that we are hanging around the 1.08 level, an area that of course has been important multiple times.
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Sign up to get the latest market updates and free signals directly to your inbox.A week before Fed officials meet to consider the appropriate pace of US interest rate cuts, three major reports are set to show underlying resilience in the US economy and a temporary slowdown in job growth.
My daily analysis of the EUR/USD pair, the market is likely to continue to see a lot of volatility in this area as the 1.08 level is an area that is a large, round, psychologically significant figure, and an area that we have seen a lot of noise previously.
Get the EUR/USD pair recommendation and buy and sell levels for today, October 24, 2024 here.