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 EUR/USD currency pair initially tried to rally against the US dollar on Monday but found the 1.05 level to be a bit too much to get beyond.
The Euro continues to do very little, although the last couple of days have been greatly influenced by the Thanksgiving holiday in the United States.
For two days in a row, the price of the EUR/USD currency pair is trying to rebound to the upside.
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The EUR/USD rallied again during the trading session on Monday, as the PMI figures coming out of the United States showed contraction.
Despite the recent gains of the EUR/USD currency pair, which recently affected the resistance level 1.0482, it stabilized after selling operations around the level of 1.0292 at the time of writing the analysis.
Tuesday was a rather quiet trading session in general, and the EUR/USD was no different than most other financial instruments.
For three consecutive trading sessions, the price of the EUR/USD currency pair has moved in a downward correction range, reaching the support level of 1.0222.
The EUR/USD has fallen again during the trading session on Monday as we continue to see a bit of hesitation from the 1.0350 region, and of course the 200-Day EMA.
Since the middle of last week’s trading, the price of the EUR/USD currency pair failed to gain momentum to complete the bullish retracement path.
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The EUR/USD has pulled back just a bit from the 200-Day EMA during the trading session on Friday, as we are heading into the weekend on the back foot.
The EUR/USD has pulled back during the trading session on Thursday as the 200-Day EMA has come back into the picture, with the 1.0350 level is an area that a lot of people are paying attention to as well.
Since the start of this week's trading, the price of the euro currency pair against the US dollar, EUR/USD, has stabilized around its strong gains.
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The EUR/USD rallied a bit during the trading session on Wednesday, testing the 200-Day EMA.
The EUR/USD has rallied significantly during the trading session on Tuesday as the PPI numbers in America came out at “only” 8.0% year-over-year.
The EUR/USD exchange rate could extend its near-term recovery during the trading week, analysts say, although many still see the market as a clear technical situation and not necessarily the beginning of a long-term recovery.