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 Euro has broken down significantly on Thursday as we have broken through the bottom of the rising wedge, showing signs of exhaustion.
Since the start of this week's trading, the price of the EUR/USD currency pair has been in a cautious wait until an update to the European Central Bank's policy is announced.
The euro went back and forth on Wednesday as we continue to see markets trying to figure out where to go next.
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A state of instability dominates the performance of the EUR/USD currency pair since the start of trading this week.
The Euro has broken down during the trading session on Tuesday to break through a short-term uptrend line.
EUR/USD failed in its attempt to climb from its lowest level in nearly five years.
The euro initially tried to rally on Monday but has pulled back from the highs as the 50-day EMA came into the picture.
Despite the strength of the US labor market numbers, the price of the EUR/USD currency pair is trying to stabilize above the resistance 1.0700.
The euro initially tried to rally on Friday but gave back gains after the jobs number came out.
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The Euro recovered quite nicely during the Thursday session, to break to the resistance barrier yet again.
The euro fell on Wednesday as we continue to see US dollar strength increase.
The price of EUR/USD was exposed to profit-taking operations, settling around the 1.0730 level at the time of writing the analysis.
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Sign up to get the latest market updates and free signals directly to your inbox.The euro tried to break above the crucial 1.08 level on Tuesday but has been found wanting again.
The price of the EUR/USD currency pair is still moving amid bullish momentum, which was able to move towards the resistance level 1.0786, recovering from its lowest level in five years.
The euro rallied again on Monday, but we are still significantly below a major resistance barrier.