EURUSD rebounded in Tuesday morning trading in the European market, to trade above its lowest level in six weeks that it recorded yesterday. This recovery comes in light of the decline of the US dollar against most major currencies before the inauguration of “Joe Biden” as President of the United States. Markets are on the […]read 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 Outlook: 8th January 2021 EURUSD remained in decline with the opening of the session on Friday in the European market at the end of the week’s forex trading, continuing its losses for the second consecutive. This decline came as a result of sales to reap profits after it achieved earlier this week The highest […]read more
The USD fell on Wednesday, with the increasing chances of the Democrats’ progress in the run-off elections for the Senate in Georgiaread more
EUR/USD extended its gains during trading today, Tuesday, in the European market, and recorded the third consecutive daily rise, reaching its highest level in two weeks. These expanded gains come from investors ’focus on buying high-risk currencies, as markets are optimistic about the trade agreement Between Britain and the European Union, in addition to the […]read more
EUR/USD witnessed a rise during trading today, Monday in the European session, recording the second consecutive daily gainread more
EURUSD rose in the European market and recorded its third consecutive daily gain to jump to its highest level in two and a half yearsread more
EUR/USD fell at the beginning of trading on Monday in the European market, recording the second consecutive daily declineread more
EURUSD Weekly Outlook: 17th December 2020 EUR/USD continued to rise at the beginning of the week’s trading in the European session, reaching its highest level in 13 weeks. These expanded gains come as top CFD investors continue to focus on risk in the markets and direct them to buy high-risk currencies. Today’s trading session ends […]read more
EUR/USD Daily Outlook: 16th November 2020 EURUSD opened trading today to record its third consecutive daily gain. These gains are due to the increased appetite of investors to risk in the markets. With the decline in the uncertainty surrounding the U.S presidential elections and the focus on the “Joe Biden” plan. At 07:55 GMT, EURUSD […]read more
EUR/USD Weekly Outlook: 10th November 2020 Eurozone – German ZEW Economic Sentiment On Tuesday, at GMT 10:00 a.m., the Zentrum fur Europaische Wirtschaftsforschung (ZEW) released its German economic sentiment index. It measures the level of a diffusion index based on surveying 275 German institutional investors and market analysts. Since the professional investment community, forex brokers […]read more