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.
Most Recent
The EUR/USD has maintained its recovery from November lows below the 1.12 support but has repeatedly turned away from technical resistance near the 1.1356 level.
For five trading sessions in a row, the rebound gains for the EUR/USD stopped at the resistance level 1.1433, waiting for stronger catalysts to continue the rebound or return to the bearish trend.
The EUR/USD is back above the 1.13 level again in light of the rising global market wave before the holidays after studies indicated that Omicron is mild.
Despite the announcement of better-than-expected GDP growth for the US, the US dollar declined amid profit-taking before the holidays.
The euro rallied a bit on Wednesday to reach the top of the overall consolidation area that I have marked on the chart.
There is nothing new about the weak euro, as the European pandemic restrictions may weaken the economic activity of the bloc, and thus appetite for the euro.
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.
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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.
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Sign up to get the latest market updates and free signals directly to your inbox.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.