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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During Wednesday's trading session, the EUR/USD made an initial attempt to rally, albeit with limited success, as it encountered hurdles from PMI figures falling below expectations within the European Union.
With the start of the Jackson Hole seminar, organized by the US Central Bank, the price of EUR/USD, tries to halt its recent losses.
At the beginning of trading this week the EUR/USD exchange rate found support above its lows in July.
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The USD/BRL produced a gap lower upon opening after the weekend; the lows created early yesterday were sustained too, creating technical interest for today.
In Tuesday's trading session, the Euro showed some resilience, managing to climb past the 1.09 mark, only to stumble a bit later on.
At the beginning of this week's trading, the price of the EUR/USD currency pair tried to rebound to the upside and stop its recent losses.
The EUR/USD exhibited a modest rally during Monday's trading session, signaling a resurgence as it surged above the 1.09 level.
During last week's trading, the bears increased the pressure on the performance of the EUR/USD currency pair, with losses affecting the support level 1.0845,
The EUR/USD exchange rate retreat continued, pushing it to the lowest level since July 2nd.
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The current market landscape has traders focusing intently on the 1.09 level, a pivotal juncture that's steering ongoing market dynamics.
The losses of the EUR/USD currency pair increased against the dollar after the positive numbers of US economic data, in addition to the US Federal Reserve's assertion of continuing tightening until record inflation is contained.
Amidst the flurry of activity, the 1.09 level stands as a focal point, drawing the attention of traders in its gravitational pull.
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Sign up to get the latest market updates and free signals directly to your inbox.The bears' control of the direction of the EUR/USD currency pair intensified, and the losses this week reached the support level at 1.0875, the lowest for the currency pair in five weeks, and settled around 1.0903 at the time of writing.
The 1.09 level remains a point of keen interest for numerous traders.
At the beginning of this week's trading, the price of the EUR/USD completed its downward path with stronger losses, reaching the support level of 1.0874.