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 fell a bit on Friday after initially trying to rally but then broke down to reach below the 1.08 level again.
The Euro initially tried to rally during the trading session on Thursday but gave back all of the gains to form a less than stellar candlestick.
During the middle of this week's trading, the euro's exchange rates rose against the rest of the other major currencies
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The Euro has rallied a bit against the US dollar during the trading session on Wednesday, as the 1.08 level continues to put up a significant amount of fine.
The Euro has rallied ever so slightly during the trading session on Tuesday to test the 1.08 level, an area that previously had been so supportive.
The Euro initially tried to rally during the trading session on Monday but gave back gains to show signs of exhaustion again.
Last week's trading was the most important for the bears to control the price performance of the EUR/USD currency pair, as the psychological support 1.0800 was finally breached.
The euro fell a bit on Friday in very thin trading.
The Euro initially tried to rally during the trading session on Thursday, but then fell rather hard to pierce the 1.08 level.
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Today, with the most important event for the euro pairs in the forex market, where the European Central Bank will announce its monetary policy decisions.
The euro bounced from the crucial 1.08 level, an area that has been supported previously.
The factors of the euro's weakness are still continuing, most notably the Russian war and its consequences.
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The EUR/USD exchange rate entered the new week's trading near its lowest levels in several years, stable around the 1.0880 support level closest to the most important bear target 1.0800.
The euro gapped higher to kick off the trading session on Monday but then turned around to fill that gap rather quickly.