By CountingPips.com
The euro traded higher against the U.S. dollar in forex trading for a third straight day as the European common currency made its first weekly gain in five weeks versus the dollar. The euro-dollar currency pair (EUR/USD) settled 
above the 1.2500 exchange rate at the end of trading on Friday after the pair touched an intraday high at the 1.2671 level, its highest level since May 13th.
The EUR/USD had made a fresh four-year low earlier this week below the 1.2150 exchange rate as risk aversion created very volatile markets and spurred investor fears on the effects of the European debt crisis. In today’s news, Germany’s parliament approved their share of the nearly $1 trillion rescue package intended to help out debt-ridden EU nations.
EUR/USD 30-Minute Chart – The Euro followed through higher against the US dollar in the forex markets today and rallied to end the week above the 1.2500 exchange rate. The EUR/USD has now gained ground for three consecutive days and touched an intraday high at 1.2671. The pair has pulled back from the days highs and currently trades at the 1.2570 level.
