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 state of cautious anticipation still dominates the global financial markets, including of course the forex market.
The euro initially rallied on Tuesday to reach the 1.06 level but continues to offer a bit of a resistance barrier.
During last week's trading, the EUR/USD exchange rate rose again from the edge of a five-year low last week.
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The Euro has rallied a bit to kick off the week, breaking above the 1.05 level.
The euro was not very happy with the rebound gains last week after steps and comments by the monetary policy officials of the European Central Bank.
The euro pulled back a bit from the initial attempt to rally on Friday, as we continue to see US dollar strength overall.
The Euro has bounced significantly from the 1.04 level during the trading session on Thursday.
The US Central Bank announced a stronger-than-expected interest rate hike and calmed Jerome Powell, governor of the bank.
The euro went back and forth on Wednesday as the 1.04 level has offered a little bit of support.
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As I mentioned since the start of this important week's trading, the US dollar will remain the strongest until the reaction to the most important event this week passes,
The euro rallied a bit on Tuesday but gave up the early gains to show signs of weakness yet again.
In the same trading path for the past week, the price of the EUR/USD currency pair is moving during this important week’s trading.
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The Euro has fallen again during the trading session on Monday to reach near the 1.04 level.
The hopes of euro investors quickly evaporated in the recent hawkish statements from European Central Bank officials headed by Lagarde
The euro fell on Friday as the US dollar continues to act as a wrecking ball against almost everything.