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 faced some downward pressure in the recent trading session as the job figures turned out to be hotter than expected.
The Euro displayed a slight uptick during Thursday's trading session, breaking above the 1.0950 level earlier in the day.
For three consecutive trading sessions, the price of the euro against the US dollar “EUR/USD” has been exposed to profit-taking selling operations, the possibility of which has often been noted.
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The Euro made an initial attempt to rally during Wednesday's trading session but encountered some resistance against the US dollar.
Ahead of the release of the minutes of the latest Federal Reserve meeting and then important US employment figures, the euro/dollar (EUR/USD) exchange rate is under pressure from profit-taking selling.
The euro dipped below 1.10 in a bearish move.
Relative stability is seen in the early trading of 2024, and the EUR/USD pair is likely to receive signals from the primary catalysts in the United States during this week.
Looking at the Euro's performance against the US dollar, we have seen a slight retracement during the trading session on Friday.
Observing the Euro's performance against the US dollar on Thursday, we can see that it initially attempted to rally but now appears to be encountering some exhaustion, with the gravitational pull of market forces coming into play.
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During the recent trading session, the euro exhibited a notable resilience.
Despite weak liquidity and the absence of major economic releases for a very short trading week due to the holidays.
With a partial return of price movements, the euro/dollar exchange rate “EUR/USD” continued its upward rebound with gains that reached the 1.1045 resistance level, the highest for the pair in four months.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD displayed a notable rally during the early hours of Tuesday, reflecting the prevailing upward momentum in the market.
The euro has a chance to end 2023 above the $1.10 level, which seemed completely off the table just a few weeks ago when the dollar was regaining strength and bets on European Central Bank rate cuts were rising sharply.
The EUR/USD had a slight setback during Friday's trading session but quickly rebounded, indicating renewed strength in the currency.