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.
Risk appetite and a lull in the dollar's gains, despite the better-than-expected results of US inflation figures, contributed to more gains for the EUR/USD.
The Euro pulled back just a bit during the trading session on Monday to reach below the 1.19 level but has since then turned around to show signs of support again.
The pair now awaits stronger incentives to complete the correction to the upside, as the psychological resistance of 1.2000 remains the most important for the bulls at present.
The EUR/USD pair's bullish performance resulted in gains that culminated in testing the 1.1915 resistance level before settling around the 1.1870 level as of this writing.
The retracement gains of the EUR/USD pair's upward correction were capped by a test of the 1.1878 resistance level, which the pair is near as of this writing.
The EUR/USD pair's bounce gains were capped as Forex investors temporarily abandoned the dollar by testing the 1.1820 resistance level before stabilizing around 1.1810 at the beginning of Tuesday's trading.
The euro pulled back ever so slightly during Good Friday, which featured a lot less volume as usual.
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