During my daily analysis of the EUR/USD pair, I can see that the 1.08 level continues to be important.
Technical Analysis
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 previous weekend saw some recovery in the euro, suggesting that the dollar's appreciation trend may be nearing exhaustion.
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During my daily analysis of the EUR/USD pair, the first thing I see is that we are hanging around the 1.08 level, an area that of course has been important multiple times.
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A week before Fed officials meet to consider the appropriate pace of US interest rate cuts, three major reports are set to show underlying resilience in the US economy and a temporary slowdown in job growth.
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My daily analysis of the EUR/USD pair, the market is likely to continue to see a lot of volatility in this area as the 1.08 level is an area that is a large, round, psychologically significant figure, and an area that we have seen a lot of noise previously.
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Get the EUR/USD pair recommendation and buy and sell levels for today, October 24, 2024 here.
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The downward trajectory of the euro against the US dollar currency pair EUR/USD is stronger, pushing the most popular currency pair in the forex market towards
Technical Analysis
The Euro was fairly noisy during the early hours on Wednesday as we continue to dance around just below the 1.08 level.
Technical Analysis
Reducing expectations for further US rate cuts continues to drag on EUR/USD, with losses extending below the psychological support level of 1.0800 to the support level of 1.0792.
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As I look at the Euro, the first thing I see is that we tried to rally a bit during the early hours on Tuesday, only to give up those gains and show signs of hesitation.
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The Dollar and is Euro is trending downward against the US likely to incur further losses over the next five days.
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The euro initially did try to rally a bit during the trading session on Monday, but then gave back quite a bit of the gains to continue to see a lot of sideways action.
Technical Analysis
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The Euro attempted to rebound on Friday, but its gains did not exceed the 1.0869 level, recovering from the significant losses it suffered last week, reaching a support level of 1.0810, the lowest for the currency pair in more than two months.
Technical Analysis
Today is an important day for the euro against other major currencies, especially against the US dollar, which has plummeted to a support level of 1.0850, the
Technical Analysis
The EUR/USD pair is likely to continue to decline as traders target the next major support at 1.0800, which connects the lowest levels since October 2023. Decisively, this is an important level as it connects the lowest volatility since August.
Technical Analysis