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 a bit during the trading session on Friday but then turned around to rally as the market reached towards the 1.09 level.
The Euro broke down a bit during the trading session on Thursday, reaching towards the 1.08 level.
After a series of failed meetings between Eurozone finance ministers, highlighting deep divisions, and lack of unity within the currency union,
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The Euro broke down rather significantly during the trading session on Wednesday but did bounced significantly to recover quite a bit of the losses.
The continued weakness of the US dollar contributed to the cautious gains of the EUR/USD pair
The Euro rallied a bit during the trading session on Tuesday, as we continue to see a lot of bullish pressure and we broke above the 50 day EMA.
The Euro initially tried to rally during the trading session on Monday but found the 50 day EMA above to be a bit too resistive.
The Euro rallied slightly during the trading session on Friday, reaching towards the highs of Thursday during the holiday.
The Euro has rallied during the trading session on Thursday, breaking above the 1.09 level above, and it does suggest that the market may go looking towards the 1.10 level given enough time.
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Consolidating Above 1.0832
The Euro has gone back and forth during the trading session on Monday to kick off the week.
The Euro bounced a bit from a major support level just below the 1.08 handle, an area that I had been calling for a couple of the past videos now.
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Sign up to get the latest market updates and free signals directly to your inbox.Over the past two weeks, the US saw initial jobless claims surge by roughly ten million due to the global Covid-19 pandemic.
The Euro broke down rather significantly during the trading session on Thursday, reaching towards the 1.08 level, an area that I had suggested that could be targeted.
The Euro continues to go back and forth, and I simply think there’s no real directionality to this pair right now.