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 US Federal Reserve returned to confirm its intention to raise US interest rates starting from the next March meeting.
The euro initially tried to rally on Wednesday but gave back gains most of the day.
It is normal for the price of EUR/USD to move amid a downward momentum ahead of the most important event for global financial markets.
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The euro stabilized a bit on Tuesday after initially dumping.
The EUR/USD exchange rate recovered in early January last week when global market volatility and heavy selling in US bonds wrecked the yield advantage that could keep the US dollar and Euro weak.
The euro sold off rather significantly on Monday but also bounced a bit to form a hammer.
During last week's trading, the price of the EUR/USD currency pair was exposed to selling operations that are considered profit taking
The euro rallied a bit on Friday as we have been bouncing around the same area for the last three days or so.
In the middle of this week's trading, the EUR/USD currency pair attempted to recover from the selling operations from the beginning of the week that pushed it towards the 1.1315 support level.
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The euro rallied just a bit on Wednesday as we are trying to hang on to the idea of rallying.
For the fourth day in a row, the price of the EUR/USD currency pair is moving amid a bearish correction that was launched towards the support level 1.1315.
The euro initially tried to rally on Tuesday, but above the 1.14 level we have seen a lot of selling pressure, and then turned around quite drastically.
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The price of the EUR/USD currency pair quickly rose to a two-month high last week, leaving the impression of a bullish reversal in its wake on the charts.
The euro pulled back a bit on Monday as liquidity may have had its part to play during the Martin Luther King Jr. holiday in the United States.
The EUR/USD exchange rate fell lower in the last session of last week's trading, but its three-day rally earlier painted a more positive picture on the EUR charts.