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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It's a decisive day for the euro pairs, with markets and traders awaiting an update of the monetary policy decisions from the European Central Bank.
The euro pulled back during the trading session on Wednesday to test the 1.18 level.
The Euro initially tried to rally during the trading session on Tuesday but gave back the gains as the 200 day EMA seems to be a bit too much to overcome.
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The Euro fell during most of the trading session on Monday, as the 200 day EMA has offered a somewhat significant resistance barrier.
The euro rallied significantly on Friday as the jobs number came out much weaker than anticipated.
The Euro has rallied significantly during the course of the trading session on Thursday to show signs of life again.
With renewed popularity for the euro and the US dollar’s cautious anticipation of US job numbers, the EUR/USD corrected upwards to the 1.1857 resistance level before settling around 1.1840 as of this writing.
The euro rallied again on Wednesday as we continue to see a lot of upward pressure.
The EUR/USD's recent gains from its bullish rebound stopped at the 1.1845 resistance level and settled around 1.1796 as of this writing.
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The euro rallied significantly on Tuesday as we shot straight up in the air due to word that the ECB will consider tapering bond buyback purchases, like the United States.
Risk appetite contributed to the EUR/USD pair's completion of the upward correction path, with gains that reached the resistance level of 1.1830 as of this writing.
The euro initially tried to rally on Monday, but gave up gains just above the 1.18 level, suggesting that perhaps we are still “stuck” in the same pattern.
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Sign up to get the latest market updates and free signals directly to your inbox.The EUR/USD has been trying to correct upwards, ultimately jumping to the 1.1802 resistance level on Friday, a 2-week high, before closing trading around 1.1795.
The euro has been very choppy and slightly negative throughout August, and I think this sets it up for a relatively big move.
The euro broke higher on Friday as it looks like we are ready to continue pushing to the upside.