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 has continued to show signs of strength during the trading session on Thursday as there was a European Central Bank meeting and announcement.
For five trading sessions in a row, the EUR/USD pair has been subjected to profit-taking selling operations.
The euro initially tried to rally during the trading session on Thursday as we continue to see bullish pressure, but did give back some of the gains to show that perhaps gravity is coming back into vogue.
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Recent profit-taking sales pushed the EUR/USD towards the 1.2080 support.
The euro initially tried to rally during the trading session on Tuesday but gave back the gains to form a shooting star.
In recent technical analyses of the EUR/USD, we noted that recent gains pushed the technical indicators into overbought areas.
The euro fluctuated during the trading session on Monday, as we continue to see a lot of volatility around the Brexit negotiations.
The EUR/USD pair's correction gains culminated upwards by testing the 1.2177 resistance, the highest for the currency pair since April of 2018, before closing the week’s trading and stabilizing around 1.2120.
The euro did pullback after initially trying to rally on Friday, as the world awaited the non-farm payroll numbers a Brexit resolution.
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After what has been a massive amount of bullish pressure in the Euro, it looks as if it is starting to show a little bit of gravity in the interim.
Since the beginning of this week’s trading, the bulls have had a stronger control over the EUR/USD performance.
The best thing you can do is wait for a short-term pullback in order to take advantage of value in the euro.
For three trading sessions in a row, the EUR/USD pair stabilized around and above the 1.2000 psychological resistance.
The euro broke above the 1.20 level during the trading session on Tuesday as a major barrier has now been broken through.
The euro tried to get above the 1.20 level during the trading session on Monday, but gave up the gains as the “London fix” started.