EURUSD achieved a rise on Monday’s trading in the European market, it jumped above the level of $ 1.2 for the first time in seven weeksread more
Forecast & Technical Analysis
What is the EURUSD?
EUR/USD or simply Euro Dollar is one of the most significant currency pairs in the Forex market. The pair determines the exchange rate of the Euro against the US dollars. For instance, a quotation 1.1780 describes the value of the Euro in US Dollar, meaning 1 Euro equals 1.1780. Euro, the single block currency, came into existence in 1999 and since then 19 of the 27 EU member states have adopted it. It is so remarkable for a currency pair that did not exist just two decades ago now accounts for nearly 25 percent of the total Forex market volume.
EUR/USD is one of the most favorite currency pairs of both retail traders and institutional investors. The Forex brokers provide the lowest trading spread starting from just 0.2 pips. Some ECN brokers also offer spread starting from zero pips. The pair’s pip value on a standard lot (100,000) is $10. The leverage ratio varies from broker to broker but with some brokers it goes as high as 1:2000.
Euro Dollar Fundamentals
The EUR/USD represents the two well-documented giant economies of the world and for this reason, its fundamentals are often more predictable compared to the other pairs. The biggest factors that affect the value of the pair are the monetary policy and the economic condition of both countries. For instance, a higher interest rate by the US Federal Reserve strengthens the US dollar and drags the EUR/USD lower. Likewise, higher interest rates in the EU or the better economic numbers strengthen the Euro and takes the pair higher.
In the 2008 recession, the EUR/USD surged to nearly 1.1600. The prime reason behind the surge was the US Federal Reserve that stimulated the local economy with trillions of dollars and kept the interest rates nearly to zero. Similarly, in the 2016 Brexit referendum when the UK decided to leave the European Union, the pair plummeted and dropped to almost 1.0350.
EUR/USD is highly regarded for its liquidity and volatility and traders find it ideal for day trading, scalping and even for swing trading.
BrokerTrending.com provides you with the Latest Euro to Dollar (USD) forecasts. Find here a technical analysis on a weekly basis on the currency pair EUR/USD.
EURUSD resumed its losses in the morning trading of the European market, it is heading towards recording its first dailyread more
EURUSD began trading on Monday, in the European market, continuing to record its losses for the second day in a rowread more
EURUSD achieved a rise on the morning of trading today, in the European market, and recorded a third consecutive daily gain and its highest level in two weeks.read more
EURUSD continued to achieve gains in the morning of trading on Tuesday in the European market, and recorded its second consecutive daily gainread more
EURUSD traded in a limited range in the European session, to settle above its lowest level in about five monthsread more
EURUSD Forecast – 31st March 2021 EURUSD achieved a limited rise on the morning of trading today, in the European session, retreating from its lowest level in nearly five months. The European economy releases important data on inflation rates during the month of March. Positive data will support the euro and reduce pressure on it. […]read more
EURUSD fell in the morning of trading on Monday in the European market, and the single currency returned to record its losses against the US currency to be close to its lowest level in 4 monthsread more
EURUSD continued its decline with the beginning of this week’s trading in the European market, registering the second daily declineread more
EURUSD witnessed a decline in the morning of trading today, in the European market, it returned to record its losses against the US dollarread more