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.
Most Recent
The Euro's recent performance in the trading market has been a mix of ups and downs.
By the end of last week's trading, the month, and the first quarter, the price of the euro fell against the major currencies.
The EUR/USD initially tried to rally during Friday's trading session but faced some selling pressure above the 1.09 level.
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The Euro (EUR) initially dipped against the US dollar (USD) during the Thursday trading session, but then turned around to rally significantly.
Throughout this week's trading, the exchange rate of the EUR/USD currency pair was in an upward rebound range, with gains that reached the 1.0871 resistance level.
Since the start of this week's trading, the price of the EUR/USD currency pair is in an upward rebound range, with gains that reached the 1.0849 resistance level, which is stable around it at the time of writing the analysis.
The Euro rallied against the USD on Tuesday, breaking above the 1.08 level, but starting to approach an area of serious resistance.
The recovery of the EUR/USD exchange rate in March was undermined last week.
The Euro struggled at the beginning of Monday's trading session but appears to have found some support to stay afloat.
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The exchange rate of the EUR/USD currency pair got rid of a large part of its previous gains in the last session of last week's trading.
The Euro experienced a notable decline during Friday's trading session, plummeting to the 1.07 level.
On Thursday's trading session, the EUR/USD initially rallied, but has since encountered a selling area from which it plunged previously.
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It was expected that the US central bank would raise the interest rate by only a quarter of a point in light of a US-led banking crisis due to the course of tightening its policy.
The Euro experienced a slight rally during Wednesday's trading session, testing the 1.08 level, an area known for its previous resistance.
Today's trading session, Wednesday, is the most important for the financial markets in general, and for the EUR/USD currency pair, in particular.