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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For three trading sessions in a row, the EUR/USD gains stop around the 1.1280 resistance level awaiting stronger catalysts to continue the bullish correction tone in order to breakout the bearish channel which still strongly stands.
The Euro initially pulled back during the trading session on Friday but found enough buyers underneath the turn things around.
The Euro tried to rally during the trading session on Thursday but found enough resistance above the turn things around and form a massive shooting star.
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Global developments, which were a product of the global trade war, have raised doubts about the economic outlook and have strongly contributed to the adjustment of US Federal Reserve monetary policy makers
The Euro rallied quite stringently during the trading session on Wednesday, reaching much higher after the opening statement by Jerome Powell at the Humphrey Hawkins testimony in front of the United States Congress.
The FX market will watch today, and cautiously, any new signals from the US Federal Reserve about the future of its monetary policy.
The EUR/USD pair initially felt towards the 61.8% Fibonacci retracement level during the day on Tuesday but then turned around to show signs of life again as the 1.12 level has shown itself to be supportive.
The Euro initially tried to rally during the day on Monday, but then broke down towards the 1.2 level underneath.
Employers in the United States sharply intensified their employment during June, adding 224,000 new jobs, underscoring the strength of the US economy after more than a decade of steady growth.
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The Euro fell significantly during the trading session on Friday, slicing through the 50 day EMA which is a very negative sign.
The Euro has rallied a bit during the trading session on Thursday in what would have been very thin trading during the Independence Day holiday in America.
European leaders agreed to nominate Lagard, director of the International Monetary Fund (IMF), for the post of governor of the European Central Bank, replacing Mario Draghi, whose term expires in October.
The Euro went back and forth during the trading session on Wednesday, showing signs of stability and uncertainty around the 50 day EMA.
Since the beginning of this week’s trading, the EUR / USD pair has been in a bearish correction as the US dollar gained enough support
The Euro initially fell a bit during the trading session on Tuesday but then turned around to rally from the 50 day EMA to reach above the 1.13 level.