The euro rallied significantly on Friday but gave back the gains to turn around and form a shooting star again.
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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The Euro initially rallied to break above the 1.16 level before turning around and showing signs of hesitation.
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Despite the US Dollar's gains after the high US inflation figures and the FOMC minutes, the EUR/USD couldn't get past the 1.1601 level on Thursday.
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The euro rallied significantly on Wednesday to wipe out the losses from a couple of previous sessions.
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The EUR/USD is approaching the psychological support level of 1.1500 ahead of important weekly data, namely US inflation numbers and the FOMC minutes.
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The euro continues to drift lower as it initially tried to rally but then gave back those gains to reach towards the 1.15 level.
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The EUR/USD has remained stable under downward pressure around the 1.1550, its lowest support in months.
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The euro tried to rally on Monday, but much like many of the other currencies against the greenback, we saw a bit of a pullback.
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After the US job numbers were announced on Friday, the EUR/USD rebounded higher, reaching the resistance level of 1.1586 and closing stable around 1.1573.
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The euro rallied a bit on Friday, reaching towards the 1.1580 level before pulling back a bit.
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The Euro has been significantly wounded over the last several sessions, as we continue to drift lower.
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The European energy crisis and expectations that the US Federal Reserve's policy will be tightened ahead of ECB policy continue to weaken the performance of the EUR/USD.
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The euro broke down significantly on Wednesday to reach down towards the 1.1550 level.
Technical Analysis
The euro fell a bit on Tuesday to break down below the 1.16 level underneath.
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The EUR/USD is trying to correct upwards after sharp selloffs that pushed it last week to the support level of 1.1563, its lowest in 14 months.
Technical Analysis