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 US dollar weakened against other major currencies after a US Labor market report showed continued slowing conditions, reinforcing expectations of a rate cut by the Federal Reserve at its September policy meeting.
I recognize that the EUR/USD currency pair is reaching a significant resistance barrier that we could have a lot of trouble to get above.
The euro against the dollar (EUR/USD) found an opportunity to move higher following investor reaction to the minutes of the latest Federal Reserve meeting.
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For two days in a row, the EUR/USD price failed to break above the 1.0750 level and the euro’s gains faltered after policymakers indicated that they needed more evidence that price pressures were under control.
According to recent trading, we have seen the EUR/USD price recover with the emergence of anti-nationalist bloc companies, inflation in the eurozone, and US jobs also in focus.
EUR/USD jumped to the resistance level of 1.0767 at the time of writing this analysis.
The euro has initially fell a bit during the trading session on Friday, to dip down below the 1.07 level yet again.
EUR/USD remains under pressure. The European Central Bank is eyeing French risk ahead of Sunday’s vote.
EUR/USD’s attempts to rebound higher at the start of this week’s trading failed, with gains not exceeding 1.0746, as it quickly returned to its strongest downward path.
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For the second day in a row, the EUR/USD price is moving higher, holding around 1.0744 at the time of writing.
The EUR/USD remains under pressure as concerns about the eurozone economy and the future of monetary policy persist.
The bears’ control over the EUR/USD pair continues, and it is stable around the 1.0730 support level at the time of writing the analysis.
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The Euro initially pulled back just a bit during the trading session on Wednesday, but keep in mind Wednesday will have been a slower day due to the fact that Juneteenth was going on in the United States.
During today's trading, Wednesday, the EUR/USD price is expected to remain moving within a narrow range with a bearish bias, settling around 1.0730 at the time of writing the analysis.
At the beginning of this week’s trading, EUR/USD stabilized around $1.07, remaining at its lowest levels in seven weeks.