Ahead of the release of US inflation data, the most important release before the announcement of the US Federal Reserve's decisions, the EUR/USD pair is trying to recover some of its recent losses.
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 euro is expected to remain under pressure against the US dollar in the near term, but we anticipate volatility around the US inflation report on Wednesday and the European Central Bank's decision on Thursday.
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Prior to the close of last week's trading, the EUR/USD pair declined following a speech by John C. Williams, President of the Federal Reserve Bank of New York.
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For the second consecutive day, the EUR/USD pair has been attempting to halt its recent losses ahead of a package of important and influential US economic data.
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It’s easy to see that this asset is strengthening, as we have bounce significantly from the 1.1050 level to reach the crucial 1.11 level.
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The US dollar is nearing a two-week high against the euro, driven by market expectations for the upcoming US payrolls report and its potential impact on the US Federal Reserve’s policy.
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The euro has fallen a bit against the US dollar during trading on Tuesday as Americans came back from the Labor Day weekend.
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The euro was trading at around $1.10 at the beginning of September, hovering near levels not seen since mid-August.
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The EUR/USD exchange rate was on sale after the Eurozone inflation rate came in line with expectations and the unemployment rate in the region unexpectedly fell, but the rise is likely to remain limited.
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In my daily analysis of the EUR/USD currency pair, the first thing I notice is that we are pulling back quite drastically, which of course makes a certain amount of sense considering that the market had gotten far too ahead of itself
Technical Analysis
With the bulls failing to push the EUR/USD pair beyond the resistance level of 1.1200, its highest in over a year, the pair has experienced profit-taking selling, pushing it towards the 1.1105 support level and stabilizing around 1.1120 at the beginning of trading today, Thursday.
Technical Analysis
The EUR/USD exchange rate is in an undeniably bullish trend.
Technical Analysis
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It’s obvious that the euro is a little overextended at the moment.
Technical Analysis
Following comments from Federal Reserve Chairman Jerome Powell regarding the possibility of an imminent cut in US interest rates, the EUR/USD currency pair
Technical Analysis
The euro initially tried to rally during the trading session on Monday but gave back early gains to show signs of hesitation again.
Technical Analysis