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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Considering the return of US dollar strength following recent signals from US Federal Reserve officials about keeping US interest rates high for longer, the EUR/USD currency pair tried to avoid moving below the 1.080 support level.
The Euro rallied significantly during the course of the trading session on Friday as the 1.08 level continues to offer plenty of interest in this market.
For the second day in a row, the EUR/USD has given up its recent gains, which reached the 1.0885 resistance level at the beginning of trading this week.
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The EUR/USD has been trading around $1.08 heading into the end of May, near its March highs.
Lower-than-expected US inflation figures allowed the EUR/USD exchange rate to recover last week with gains that reached the resistance level of 1.0895 before closing the week's trading stable around the level of 1.0868.
The EUR/USD currency pair has risen to a resistance level of 1.0895, the highest level in nearly two months, as expectations of a convergence in monetary policy between the US and Europe grow.
The EUR/USD is trading near its highest level in over a month ahead of the release of key US inflation data that will have a strong and direct impact on the future of Fed policy.
The euro has now completed four consecutive weekly advances, suggesting ongoing resilience that could continue if mid-week US inflation and retail sales data
The euro rallied a bit after initially gapping lower during the volatile open on Monday.
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With the start of this week's trading, the price of the euro against the US dollar EUR/USD is moving in a very narrow range amid quiet trading, a calm economic calendar today,
The euro has rallied again during the early hours on Wednesday against the British pound, as we continue to see the British pound suffer at the hands of volatility.
May 09, 2024, Analysis of euro price against the dollar EUR/USD
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Amid the performance of the currency pair in Forex currency trading companies, EUR/USD may take cues from tomorrow's US initial jobless claims report and the University of Michigan's preliminary US consumer sentiment index on Friday.
The euro initially fell a little bit during the trading session on Tuesday, but then turned around to rally towards the 200 day EMA.
According to recent trading, the euro appears increasingly ready to test some upside targets against the US dollar in the coming days, thanks to a strong reaction to the US jobs report on Friday.