After rising for four consecutive trading days and gaining more than 1.5% in that rally, EUR/USD staged a correction in the American session on Thursday and closed the day in negative territory.
EUR/USD holds above 1.1100 after closing in negative territory on Thursday. The near-term technical outlook points to a loss of bullish momentum. Fed Chairman Powell will deliver opening remarks at the Jackson Hole Symposium later in the day. The pair holds steady above 1.1100 in the European session on Friday as investors move to the sidelines while waiting for Federal Reserve Chairman Jerome Powell to deliver opening remarks at the Jackson Hole Symposium.
Euro FAQs What is the Euro? The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY , EUR/GBP and EUR/AUD .
Currencies Majors Technical Analysis
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EUR/USD Forecast: Euro remains bullish despite mixed PMI dataEUR/USD preserved its bullish momentum on Wednesday and reached its highest level since July 2023 above 1.1170.
Read more »
EUR/USD Forecast: Euro holds above key support ahead of US eventsEUR/USD extended its winning streak into a third consecutive trading day on Tuesday and reached a 2024-high above 1.1130.
Read more »
EUR/USD Forecast: Euro could remain bullish if risk flows continue to dominate marketsEUR/USD started the new week on a firm footing and gained 0.5% for the second consecutive trading day on Monday.
Read more »
EUR/USD Forecast: Euro could face next resistance at 1.1060EUR/USD benefited from the broad-based selling pressure surrounding the US Dollar (USD) on Friday and gained more than 1% for the week.
Read more »
EUR/USD Forecast: Euro could look to reclaim 1.1000 on improving risk moodEUR/USD regains its traction and rises toward 1.1000 in the European session on Friday after snapping a three-day winning streak on Thursday.
Read more »
EUR/USD Forecast: Euro bulls could remain interested while 1.1000 holds as supportEUR/USD gathered bullish momentum and reached its highest level of 2024 near 1.1050 on Wednesday.
Read more »