For the second day in a row, the bulls are trying to bring the EUR/USD out of its bearish channel as the pair settled around 1.1606 and the bears moved the price to the 1.1513 support area, the lowest in more than 15 months.
Technical Analysis
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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Technical Analysis
The euro had a very interesting day on Friday, turning around to form a hammer.
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The EUR/USD suffered last week as it fell to the 1.1513 support level, the lowest in more than 15 months, and settled around 1.1563 at the beginning of this week's trading.
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The euro initially fell on Friday but recovered after the jobs figure.
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The Euro has fallen a bit on Thursday, reaching towards the 1.1525 level.
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The storm of the US Federal Reserve’s announcement passed relatively peacefully in relation to the performance of the EUR/USD.
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The EUR/USD will remain in narrow ranges until the market's reaction to the important events this week passes.
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The euro initially tried to push a little higher on Tuesday, but as you can see, has struggled to stay above the 1.16 level.
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The EUR/USD picked up where it left off last week and settled below the 1.1600 level.
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The euro rallied significantly on Monday, breaking back above the 1.16 level.
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The EUR/USD is traversing low water marks in early trading today as it continues to flirt with long-term lows, and speculators wonder what’s next.
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Friday’s trading session strongly supported the EUR/USD's bearish outlook as the price fell to the 1.1535 support level, a 2-week low.
Technical Analysis
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The euro started out the session on Friday at the 50-day EMA, but then turned around to break down rather significantly and slice through the 1.16 level.
Technical Analysis
The Euro has rallied significantly during the course of the trading session on Thursday to reach towards the 50 day EMA.
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Today's trading session is crucial for the euro's performance against the rest of the other major currencies, as the European Central Bank will announce its monetary policy decisions.
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