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.
According to forex market trading, the euro against the US dollar EUR/USD stabilized near the psychological support level of 1.0800 at the end of March trading.
Amid a holiday-dominated trading week with only the Fed's favorite inflation reading to watch, the EUR/USD currency pair is moving in tight ranges with a bearish bias.
The “EUR/USD” currency pair is at risk of further losses this week as the technical setup collapses, and that will not happen until Friday when the potentially market-moving US PCE inflation figure is released.
The euro continues to drift a bit lower against the US dollar, but ultimately this is a market that I think continues to see a lot of upward momentum, as well as down, as we are essentially stuck in a range.
The EUR/USD currency pair recovered significantly after the Federal Reserve left the US interest rate unchanged at its highest level in 23 years at 5.25%-5.5% for the fifth consecutive meeting in March 2024, in line with market expectations.
The EUR/USD currency pair is likely to remain under downward pressure and trade in narrow ranges until the reaction of markets and investors to important events and economic data this week led by the US Federal Reserve announcement.
At the start of trading this important week, the euro/dollar exchange rate (EUR/USD) stabilized at a level slightly below 1.09, with losses extending to the support level of 1.0861.
The euro did pretty much nothing in the Friday session, which is typical for this pair as we have a situation where two central banks are going to be doing the same thing by the end of the year.
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