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 again during the trading session on Thursday as the situation in Ukraine continues to deteriorate.
The pace of losses for the EUR/USD currency pair continued more towards a noticeable support level on the charts in the middle of this week's trading.
The euro initially sliced well below the 1.10 level, as there was a major “risk-off” type of situation.
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In light of the constant anxiety in the financial markets, the selling operations of the euro against the dollar EUR/USD are still going on.
The euro fell all the way down to the 1.11 handle underneath, which is where we had bounced from previously.
The EUR/USD exchange rate has entered this week's trading under pressure.
The Euro got hammered right off the bat on Monday morning, gapping down to reach towards the 1.1121 level.
At the end of last week’s trading, the price of the euro currency pair against the US dollar EUR/USD attempted to recover after its collapse to its lowest level during 2022
The Euro has rallied a bit heading into the weekend, which of course is a bullish sign.
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The Euro fell apart during the trading session on Thursday as Russia invaded Ukraine, causing a lot of fear on the continent.
Expanding the scope of Russian military operations means that the invasion of Ukraine is very likely, and thus the suffering of the euro has increased in the Forex market.
The euro rallied a bit on Wednesday to reach towards the 50-day EMA yet again.
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During yesterday's trading, the price of the EUR/USD currency pair attempted to recover, but the gains did not exceed the 1.1367 resistance level.
The euro initially shot higher on Tuesday but struggles in the same general vicinity that it has over the last week or so.
I expected before that the recovery attempts of the EUR/USD currency pair may quickly collide with renewed fears of war in Europe.