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.
Since the start of trading this week, the exchange rate of the euro currency pair against the dollar, EUR/USD, is in a narrow range with a downward tendency.
The EUR/USD experienced significant volatility on Friday, driven by the release of the Non-Farm Payroll figure, which exceeded expectations by nearly double.
The euro's exchange rates came under pressure after a batch of less-than-expected data from the euro-zone indicated that pressure to raise interest rates at the European Central Bank was easing.
The EUR/USD exchange rate entered a shortened week due to turbulence, under pressure near its lowest levels in two months and with key technical support levels in sight
The EUR/USD made an initial attempt to rally during Monday's trading session, but the gains were quickly relinquished due to thin Memorial Day holiday trading.
The EUR/USD exchange rate experienced volatile trading ahead of last weekend after the US Federal Reserve's (Fed) preferred inflation measure confirmed the continuation of stubbornly rising price
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