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.
The Euro continues to grind higher against the greenback, as the Forex market seems to be focusing more on the idea of European bonds being federalized than anything else.
The Euro broke higher during the trading session on Thursday as we continue to see the Euro gain from the idea of Germany backstopping the entire Union.
The Euro has continued its downward plunge from the top of the range that started on Thursday, in what is starting to become somewhat of a familiar pattern.
The Euro has rallied a bit during the trading session on Tuesday to reach towards the 1.0950 level, and even poked above there at one point early in the session.
Throughout last week's trading, the price of the EUR/USD pair was trying to avoid a breakdown below the 1.08 psychological support in order not add to losses, especially with the continued strength of the US dollar as a safe haven.
The Euro has gone back and forth during the trading session on Friday again, and as a result it is obvious that the market has been dancing around the 1.08 level.
