The ECB delivered a 10 basis point interest rate cut in its deposit facility rate to -0.50% and announced the restart of its QE program starting November 1st 2019 at a pace of €20 billion per month, open ended.
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 has been all over the place during the trading session on Thursday as the ECB had a press conference and interest rate decision.
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During Thursday's trading, the most important event for the Euro this week will be the monetary policy announcement from the ECB.
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The Euro fell a bit during the trading session on Wednesday, slicing through the 1.10 level yet again.
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As we expected from the beginning of this week, the EUR / USD will continue to move in a limited and narrow range, which occurred,
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The Euro continues the chop around without any type of direction, as per usual.
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Since the beginning of this week’s trading, the performance of the EUR / USD pair, as we expected, was in a limited range.
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The Euro initially tried to rally during the day on Monday but ran into trouble at the same general region than that we have seen it roll over recently.
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The Euro tried to rally during the trading session on Friday but has rolled over after the initial surge post nonfarm payroll.
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The Euro shot higher during the trading session on Thursday, reaching towards the 1.11 EUR level before rolling over again.
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The Euro has rallied during the trading session on Wednesday to break back above the 1.10 level.
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The Euro initially fell during the trading session on Tuesday, reaching towards the 1.0925 level before turning around and rallying.
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The Euro has initially tried to rally during the trading session on Monday but found enough resistance at the 1.10 level to turn things around and sell off yet again.
Technical Analysis
The Euro has broken down significantly during the Friday session, slicing through the 1.10 EUR level.
Technical Analysis
The Euro continues to struggle overall, but at this point I think it’s probably going to continue more of the sideways move than anything else in the short term.
Technical Analysis