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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As recently expected, the bulls might target the 1.2000 psychological resistance for the EUR/USD pair
The Euro initially shot higher during the trading session on Tuesday, reaching towards the 1.20 level.
The EUR/USD pair succeeded in achieving a quick compensation for last week's losses.
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The Euro rallied again during the trading session on Monday but has pulled back from the highs as we continue to see a lot of noise between here and the 1.20 level.
This contributed to an upward closing of the EUR/USD price, reaching the 1.1919 resistance.
The Euro rallied significantly during the trading session on Friday to test the 1.19 level above.
EUR/USD: Euro’s Past Two Weeks Likely Not the New Normal
The Euro went back and forth during the trading session on Thursday as Jerome Powell finally had his speech from the Jackson Hole symposium.
For four trading sessions in a row, the EUR/USD currency pair was trying to correct upwards, but its gains did not exceed the 1.1844 resistance,
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The Euro initially fell during the trading session on Wednesday but did turn around to show signs of life again by the end of the day.
For the third day in a row, the price of the EUR/USD is trying to correct upwards.
The Euro rallied a bit during the trading session on Tuesday as we have wiped out the losses from Monday.
The Euro initially rally during the trading session on Monday but has fallen quite a bit from the highs in order to form a less than ideal candlestick.
Most of last week’s trading was marked by the downward correction for the EUR/USD, which pushed it towards the 1.1754 support before stabilizing around 1.1800 at the beginning of this week’s trading.
The Euro has fallen hard on Friday but remains within the consolidation area that we have been in for some time.