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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Friday’s trading session strongly supported the EUR/USD's bearish outlook as the price fell to the 1.1535 support level, a 2-week low.
The euro started out the session on Friday at the 50-day EMA, but then turned around to break down rather significantly and slice through the 1.16 level.
The Euro has rallied significantly during the course of the trading session on Thursday to reach towards the 50 day EMA.
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Today's trading session is crucial for the euro's performance against the rest of the other major currencies, as the European Central Bank will announce its monetary policy decisions.
The euro rallied a bit on Wednesday as we continue to hang around the 1.16 level.
Since the beginning of this week's trading, the EUR/USD is still stable around the 1.1600 level, looking for catalysts to get out of the general bearish trend.
The euro has gone back and forth during trading on Tuesday as we continue to see the 1.16 level as a bit of a magnet.
The EUR/USD pair's rebound attempts, which reached the 1.1667 resistance level, quickly evaporated and returned to settle below the 1.1600 support.
The Euro has gone back and forth during the course of the trading session on Monday to show signs of hesitation yet again.
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With the beginning of this week's trading, the EUR/USD is still stable around 1.1655, where it closed last week.
The euro rallied significantly on Friday, only to give up a bit of the gains.
The Euro has rallied a bit during the course of the trading session on Thursday, only to turn around and show hesitation.
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The EUR/USD is still trying to rebound higher, but it is dominated by a cautious correction, as the euro is still suffering from weak investor sentiment.
The euro initially pulled back just a bit on Wednesday but then turned around to show signs of life again.
The EUR/USD has been in a cautious bullish correction range, moving towards the 1.1670 resistance before settling around 1.1640 as of this writing.