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.
Currently, Bulls are trying to push the euro dollar pair EUR/USD towards the psychological resistance level of 1.10 again, which has often confirmed that it is a good opportunity for bulls to control the direction.
The Euro to Dollar “EUR/USD” showed the potential for a 2.34% advance last week but ultimately failed at a key level, closing the week with a gain of 1.25%.
During Monday's trading session, the euro experienced a modest increase, largely influenced by the recent changes in the Federal Reserve's "dot plot," which suggests a potential decrease in interest rates.
The euro's attempt to rebound last week failed. Despite the bulls' success in moving the pair towards the psychological resistance of 1.1000, the dollar came back strong to close the week lower, stabilizing around 1.0893.
Recently, the US dollar rose in response to the release of US inflation data for November, which showed an increase of 0.1% on a monthly basis in the main US consumer price index (CPI).
The EUR/USD exchange rate is back under pressure and vulnerable to further losses unless the European Central Bank can “conquer” the US Federal Reserve’s policy course this week.
The EUR/USD embarked on a rollercoaster journey throughout Monday's trading session, a reflection of its ongoing tussle with the critical 200-Day Exponential Moving Average.
The EUR/USD exhibited a back-and-forth pattern during Thursday's trading session, with its focus honed on the 200-Day EMA, and indicator that people sometimes pay close attention to.
In Wednesday's trading session, the euro experienced a downward shift, touching the crucial 50-Day Exponential Moving Average (EMA) and dipping below the 1.08 level.
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