EURUSD returned to decline at the beginning of the week’s trading resuming its losses that had been halted for two daysread 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 rose on Thursday morning in the European session, and the single currency recorded the first daily gain in recovery from its lowest level in three monthsread more
EURUSD continued its rebound on Monday morning in the European session and recorded the second consecutive daily riseread more
EURUSD returned to record its losses on Tuesday morning in the European market, resuming its decline after rising yesterdayread more
EURUSD continued to rise in the morning of Tuesday’s trading in the European market and recorded the second daily gainread more
EURUSD fell at the beginning of trading today, in the European market, and recorded its first daily loss. This comes in light of the US dollar rising and investors’ anticipation of US inflation data, which could be a means of pressure on the Federal Reserve to tighten its monetary policy sooner. The EURUSD pair traded […]read more
EURUSD returned to decline at the beginning of the week to recorded its first losses in due to the investors avoidance from high-risk assetsread more
EURUSD extended its gains in the morning of trading on Tuesday in the European market and recorded the second consecutive daily riseread more
EURUSD Forecast – 26th May 2021 Eurozone – German Final GDP On Tuesday, at GMT 6:00 a.m., the Destatis will release the quarter-over-quarter German Final GDP figure. It measures the changes in the value of all products and services produced by the German economy. However, it is inflation-adjusted in order to provide more accurate data. […]read more
EURUSD continued to achieve gains in the morning of trading today, in the European market, registering the fifth consecutive daily gainread more