For four consecutive trading sessions, the price of the EUR/USD currency pair received a strong bullish momentum.
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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In Tuesday's trading session, the EUR/USD made an initial attempt to rally but encountered resistance near the 1.10 level, signaling the presence of an ongoing consolidation phase.
The EUR/USD exchange rate held most of last month's gains during recent trading, but its rebound from its lows in late May has lost steam
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The euro experienced a back-and-forth movement during Monday's trading session, hovering around the 1.10 level without managing to break above it.
In the last trading session of last week, the bulls succeeded in moving the price of the EUR/USD currency pair, upwards, towards the 1.0973 resistance level
In the latest trading session, the euro exhibited a substantial rally, fueling speculations of a potential return to the 1.10 level.
The EUR/USD experienced a lack of clear direction during Wednesday's trading session, remaining trapped between the 50-Day Exponential Moving Average and the 1.09 level.
The US Federal Reserve's reaffirmation of the possibility of raising US interest rates.
During Wednesday's trading session, the euro displayed indecisiveness, fluctuating within the range of the 50-Day Exponential Moving Average and the 1.09 level.
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Amid movement in narrow ranges since the start of trading this week with a bearish tendency, the price of the EUR/USD currency pair may be exposed to more fluctuations.
The euro experienced a slight decline during Tuesday's trading session, characterized by a back-and-forth movement.
The EUR/USD exchange rate entered the new week's trading in full swing near its highest levels in two months.
The EUR/USD experienced a slight retracement during Monday's trading session, testing the 50-Day Exponential Moving Average once again.
At the end of last week's trading, the price of the EUR/USD currency pair tried to rebound to the upside, with gains that affected the resistance level at 1.0931, after it collapsed to the support level at 1.0835.
The EUR/USD experienced a slight decline during Friday's trading session, briefly dipping below the 50-Day Exponential Moving Average.
