The euro shot higher on Tuesday but gave back the gains to form a shooting star-like candlestick.
The EUR/USD started the week after giving up an important level of support, leaving it at risk of a crash on the charts when low liquidity could lead to big moves heading into the holidays.
The euro rallied a bit on Monday, bouncing from the 1.1250 level yet again.
The euro could not keep the gains from the European Central Bank’s announcement that it would begin to tighten monetary policy in the footsteps of other global central banks.
The euro fell again on Friday and even closed at the very low of the range.
The Euro rallied a bit on Thursday as Christine Largarde suggested that the economy could come roaring back next year.
The Federal Reserve's decision to end its purchase program and raise US interest rates next year was priced in by the markets, which prompted the EUR/USD to increase its losses to the 1.2221 support level before rebounding and settling around the 1.2290 level as of this writing.
The euro fell a bit on Wednesday as we awaited the results of the Federal Reserve meeting.
Today's trading session is important for the EUR/USD, as the US Federal Reserve will announce its decision regarding tightening its monetary policy.
The euro initially tried to rally on Tuesday but gave back early gains to show signs of weakness again.
The EUR/USD did not change much last week, but it could see more volatile trading during the coming days after policy decisions of the Federal Reserve (Fed) and the European Central Bank (ECB).
The euro fell a bit on Monday, reaching down towards the lows of the Friday session.
This week will be an impactful one for the year, so there will be reactions to its events and economic data.
The euro initially fell on Friday but turned around to recover again and reach towards 1.1350 level.
The Euro has fallen rather hard during the trading session on Thursday, wiping out most of the gains from Wednesday.