Forex trading is a business in which we can make good money after learning its skills. Its also having big risks in your investments. If you do not know the rules of the forex market then you will get a big loss. Today we will tell you about the future of our favorite currency pair which is EUR/USD.
Today we will tell you about the next weekly forecasts of Forex Trading pair EUR/USD. This pair is the most favorite of many traders. In Forex Trading many traders only trade in EUR/USD
The EUR/USD pair is trying to climb from six-week lows and built on the momentum further trying to reach 1.1500.
Currently trading between the 1.1520-25 region and its also testing session tops, the pair also tried to jump six days of losing streak and has now recovered a part of previous session declines. Now it seems to retrace against the dollar.
Today the new better-than-expected release of the initial jobless claims data from the US has failed to revive the USD demand and kept pushing the EUR/USD pair higher from its last low.
It would be interesting to see if the current bounce touches the end of the pair’s recent depreciating slide. It seems that this pair will surely test the previous low and will move future.
Technical levels of EUR/USD
Immediate resistance is seen near the 1.1545-50 region, above which the pair is trying to make a fresh attempt towards reclaiming the 1.1600. On the flip side, weakness is seen back below the 1.1500 handles now it’s trying to find support near the 1.1480-75 region.
EUR/USD is the best pair to trade from our point of view Because the movement of this pair is very decent. The weekly trade of this pair is not very risky because it does not move too much like Oil and Gold.