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breaking news EURUSD goes up and down in the NA session


EURUSD on the hourly chart

the EURUSD

EUR/USD

The EUR/USD is the currency pair comprising the single currency of the European Union, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The rate of the pair indicates how many euros are needed to buy a dollar. For example, when EUR/USD is trading at 1.2, it means that 1 euro equals 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the Euro (EUR) is the second most traded currency in the world, behind the US Dollar. This currency pair is the most traded and liquid currency pair in the market. As the most popular trading pair, EUR/USD is a staple of all brokerage offerings and often has some of the lowest spreads compared to other pairs. Ultimately, the currency trails the two most economical blocs in the world and sees the most volume for this reason. EUR/USD has a wide range of factors that influence its rates. On the Euro side, Eurozone economic data as well as internal bloc factors can easily impact rates. Even smaller member states can effectively weigh on the euro, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the US and at the Federal Reserve generally affect the EUR/ usd. Many examples include bailouts during the financial crisis, tax cuts under the Trump administration, and Covid-19 relief measures, among others.

The EUR/USD is the currency pair comprising the single currency of the European Union, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The rate of the pair indicates how many euros are needed to buy a dollar. For example, when EUR/USD is trading at 1.2, it means that 1 euro equals 1.2 dollars. Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the Euro (EUR) is the second most traded currency in the world, behind the US Dollar. This currency pair is the most traded and liquid currency pair in the market. As the most popular trading pair, EUR/USD is a staple of all brokerage offerings and often has some of the lowest spreads compared to other pairs. Ultimately, the currency trails the two most economical blocs in the world and sees the most volume for this reason. EUR/USD has a wide range of factors that influence its rates. On the Euro side, Eurozone economic data as well as internal bloc factors can easily impact rates. Even smaller member states can effectively weigh on the euro, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the United States and at the Federal Reserve generally affect the EUR/ usd. Many examples include bailouts during the financial crisis, tax cuts under the Trump administration, and Covid-19 relief measures, among others.
Read this term just moved to a new session low in the current hourly bar, and in the process, EURUSD price peeked below its 200 hourly moving average at 1.04903. The low price reached 1.04882.

The sellers had their shot, but the momentum could not be sustained. The price has already pushed back the 1.0500 level and is trading at 1.0509 in what was volatile up and down in the New York session.

Earlier in the New York session, the price of EURUSD surged and returned above the 61.8% retracement of the May trading range at 1.05293. However, momentum could not be sustained on this move, and the past few hours have seen a downward swing (and towards the 200 hourly moving average).

Thus, the buyers there had shot above 1.05293 and the sellers had their shot below 1.04903. Everyone has failed. Nevertheless, the battle zone remains at these levels as the buyer and seller face off.

What happens when you break out or break out?

A move back above the 61.8% retracement at 1.05293 should give buyers more confidence as traders retarget the swing zone from 1.0567 to 1.0576 higher (see numbered red circles).

Conversely, a return below the 200 hourly moving average and bearish buyers seen today should give up and look to 1.04709 (red box bottom) as the next key target, followed by the 100 hours (blue line in chart above) at 1.04459.


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