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
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 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
EURUSD extended its decline during trading on Monday in the European market and recorded its fourth consecutive daily lossread more
EURUSD witnessed a limited decline in the morning of trading in the European market, re-recording its losses that stopped yesterdayread more
EURUSD started the week’s trading lower in the morning of European market trading and recorded its second consecutive dailyread more
EURUSD made a rise in the European market and recorded its fourth consecutive daily gain and its highest level in a monthread more
EUR/USD Outlook – 17th February 2021 United States – Unemployment Claims On Thursday, at GMT 1:30 p.m., the US Department of Labor will release the unemployment claims figure, which measures the changes in the number of people who claimed for unemployment insurance over the last week. Top CFD brokers consider the unemployment claims data to […]read more
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
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