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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Since the start of this week's trading, the price of the EUR/USD currency pair continued its losses, which extended to the support level of 1.0952, before settling around 1.1000 at the time of writing.
During Tuesday's trading session, the euro experienced a slight decline, hovering just above the 50-Day Exponential Moving Average.
As I mentioned yesterday, the EUR/USD currency pair may remain under downward pressure until the markets react to the announcement of inflation numbers in the eurozone and US job numbers.
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During Monday's trading session, the euro exhibited a modest rally, making efforts to recover from the 50-Day Exponential Moving Average.
Last week's exciting trading was generally bearish for the performance of the price of the EUR/USD currency pair.
The euro witnessed an intriguing trading session on Friday, displaying a mix of bearish and bullish signals that have captured traders' attention.
During the Thursday trading session, the focus is firmly set on the European Central Bank (ECB) as rumors of an interest rate hike circulate in the financial markets.
The price of the euro against the US dollar, EUR/USD, interacted with yesterday's important event, which was the US Federal Reserve's announcement to raise interest rates by a quarter of a point, as was expected.
The euro displayed a mild rally during Wednesday's trading session as market participants eagerly awaited the Federal Reserve's announcement later in the day.
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It is too early to bet on the euro as the European Central Bank's monetary policy meeting tomorrow, Thursday, is likely to keep the door open for another rate hike in September, according to Fouad Razakzadeh, an analyst at City Index.
In Tuesday's trading session, the euro experienced an early pullback, igniting discussions about the strength of the US dollar and its potential trajectory.
The EUR/USD exchange rate entered the new week's trading under pressure and is likely to be at risk of deeper losses.
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The euro experienced a pullback in Monday's trading session, as market participants grapple with the question of whether the US dollar will continue to strengthen or if this is merely a temporary retracement.
Amidst a downward correction, the price of the EUR/USD receives the monetary policy decisions of both the European Central Bank and the US Federal Reserve this week.
Friday's trading session for the euro was marked by limited movement, which, in itself, could be interpreted as a bullish sign, considering the previous day's tumultuous performance