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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EUR/USD rose in the middle of the week's trading after official figures revealed another low mark in the annual measure of price growth but also a more meaningful glimpse of the Fed's victory in its efforts to contain the inflation demon.
The EUR/USD was seen rallying a bit during the trading session on Wednesday before retreating quickly, indicating the continuation of the sideways trading range that has persisted for a few weeks now.
The EUR/USD exchange rate entered a shorter week's trading due to the holidays
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The EUR/USD experienced a pullback during Tuesday's trading session as the market continued to exhibit a lot of noisy behavior.
The beginning of this week’s trading was not much different from the end of last week’s trading, where the price of the EUR/USD currency pair settled around and above the psychological resistance 1.1000.
The euro initially rallied a bit against the US dollar on Monday but has given back some of the gains since then.
Throughout last week's trading, the performance of the EUR/USD currency pair was characterized by moving in an upward path supported by stability above the psychological resistance 1.1000.
The EUR/USD attempted to rally during Friday's trading session but encountered resistance that forced it to sell off.
The European Central Bank (ECB) raised its key interest rates as anticipated, causing the euro to initially try to rally during Thursday's trading session before giving back gains.
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The US central bank raised the US interest rate and as expected investors abandoned the US dollar.
The price of the EUR/USD currency pair was exposed to selling operations with losses that affected the support level 1.0942, and returned at the beginning of trading today, Wednesday.
The EUR/USD has been experiencing a lot of choppy trading lately, with back-and-forth movement in the market.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD exchange rate entered the new month stalling around the 1.10 resistance.
The EUR/USD has been consolidating around the 1.10 level in recent trading sessions, with a lot of noise to chew through.
The stability of the exchange rate of the EUR/USD currency pair against the US dollar is still above the psychological resistance 1.1000, which supports the bullish trend of the currency pair.