EUR/USD gained traction and closed in positive territory on Friday.
EUR/USD holds steady near1.0850 in the European morning on Monday. US markets will remain closed in observance of the Memorial Day holiday. The near-term technical outlook fails to offer directional clues. The pair, however, registered losses for the week and snapped a five-week winning streak. Early Monday, the pair holds steady at around 1.0850.
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 .
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EUR/USD Forecast: Euro remains bullish following Thursday's correctionFollowing Wednesday's upsurge, EUR/USD struggled to preserve its bullish momentum and closed modestly lower on Thursday.
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