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 European energy crisis and expectations that the US Federal Reserve's policy will be tightened ahead of ECB policy continue to weaken the performance of the EUR/USD.
The euro broke down significantly on Wednesday to reach down towards the 1.1550 level.
The euro fell a bit on Tuesday to break down below the 1.16 level underneath.
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The EUR/USD is trying to correct upwards after sharp selloffs that pushed it last week to the support level of 1.1563, its lowest in 14 months.
The euro rallied a bit against the US dollar on Monday but gave back some of the most extreme gains as the 1.16 level continues to act as a magnet for the market.
It was a sharp bearish trading week for the EUR/USD, which collapsed to the 1.1563 support level, a 14-month low, and closed trading around the 1.1592 level.
The euro recovered a bit on Friday, but after we have seen this massive amount of selling pressure, it is very unlikely that it is the beginning of a change in attitude.
The Euro has fallen again during the trading session on Thursday, as the 1.16 level has been sliced through.
The EUR/USD has seen its bearish trend grow stronger in the past week and yesterday’s burst of selling has taken the Forex pair to important lows.
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Wednesday's session was particularly bearish for the EUR/USD, which fell to the 1.1589 support level from the 1.1690 resistance in the same session.
The euro broke down significantly on Wednesday to reach towards 1.16 level underneath.
Selloffs pushed the EUR/USD towards its lowest levels of 2021 as it moved to the 1.1668 support level and settled around the 1.1682 level as of this writing.
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The Euro has drifted lower during the bulk of the month of September, reaching down towards the 1.17 level.
The Euro has fallen significantly during the course of the trading session on Monday to reach just below the 1.17 level.