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Currency Pair: EUR/USD (Euro/U.S. Dollar)

Started by admin, Jul 28, 2020, 02:30 pm

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Currency Pair: EUR/USD (Euro/U.S. Dollar)
What is the Currency Pair: EUR/USD (Euro/U.S. Dollar)
The Currency Pair EUR/USD is the shortened term for the euro against U.S. dollar pair, or cross for the currencies of the European Union (EU) and the United States (USD). The currency pair indicates how many U.S. dollars (the quote currency) are needed to purchase one euro (the base currency). Trading the EUR/USD currency pair is also known as trading the "euro." The value of the EUR/USD pair is quoted as 1 euro per x U.S. dollars. For example, if the pair is trading at 1.50, it means it takes 1.5 U.S. dollars to buy 1 euro.
Understanding forex Quotes.
Basics of Currency Pair: EUR/USD (Euro/U.S. Dollar)
The EUR/USD pair has become the most widely-traded pair in the world because it represents a combination of two of the biggest economies in the world. It is affected by factors that influence the value of the euro and/or the U.S. dollar in relation to each other and to other currencies. For this reason, the interest rate differential between the European Central Bank (ECB) and the Federal Reserve (Fed) affects the value of these currencies when compared to each other. For example, when the Fed intervenes in open market activities to make the U.S. dollar stronger, the value of the EUR/USD cross could decline due to a strengthening of the U.S. dollar compared to the euro. Along the same lines, bad news from the EU economy has an adverse effect on prices for the EUR/USD pair. News of the government debt crisis and immigrant influx in Italy and Greece resulted in a euro selloff, prompting the pair's exchange rate to plunge.
Brief History of the Euro Currency.
The euro currency originated on 1992 as a result of the Maastricht Treaty. It was originally introduced as an accounting currency in 1999. On Jan. 1, 2002, the euro began circulating in member countries of the EU, and over the course of several years, it became the accepted currency of the European Union and ultimately replaced the currencies of many of its members. Consequently, the euro integrates and represents a large number of European economies. This serves to stabilize currency exchange rates and volatility for all members of the European Union. It also makes the euro one of the most heavily traded currencies in the forex market, second only to the U.S. dollar.
As of March 26, 2018, 19 of the 28 member countries of the European Union use the euro. According to the ECB, as of January 1, 2017, more than €1 trillion are in circulation in the world.

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EUR/USD (Euro to Dollar) Forecast, Page 1.
EUR/USD Price Forecast - Euro Crashes Into 50 Day EMA.
The Euro has rallied quite significantly during the trading session on Thursday, breaking the back of several shooting stars from earlier in the week. That is a very significant sign, but at this point it's very likely that the market still has a lot of weight upon itself. At this.
Dollar's Fall Halted at 98.4 Support Level Am >
The Dollar index (DXY) fell by about 0.38 percent before paring back losses, as the 98.4 support level kicked in.
EUR/USD M >
Based on the early price action and the current price at 1.1026, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to the price cluster at 1.1019 to 1.1022.
EUR/USD Daily Forecast - Euro Breaks Above Critical 1.10 Resistance.
EUR/USD was boosted by a weaker dollar in early trading on Thursday, resulting in a bullish break above a notable resistance confluence.
Dollar Continues Paring Early-October Losses Ahead of FOMC Minutes, September CPI.
The Dollar index (DXY) continues to pare losses seen earlier this month, as investors await the minutes from the September FOMC meeting as well as the September CPI reading.
EUR/USD Price Forecast - Euro reaches towards resistance again.
The EUR/USD pair has rallied again during the trading session on Wednesday, as the 1.10 level continues offer significant resistance. There is also a downtrend line that should be paid attention to as well, so there are couple of different reasons to think that this market may fail.
EUR/USD M >
Based on the early price action and the current price at 1.0975, the direction of the EUR/USD the rest of the session on Wednesday is likely to be determined by trader reaction to uptrending Gann angle at 1.0939 and the uptrending Gann angle at 1.0999.
EUR/USD Daily Forecast - Euro Holds Below Resistance Ahead of Fed Minutes.
EUR/USD fell under pressure in North American trading on Tuesday as investors brushed off weak US data. However, the pair has regained some momentum in the early day and has wiped most of yesterday's loss.
EUR/USD Price Forecast - Euro continues to find resistance.
The Euro continues to find resistance at the 1.10 level above, as we are now forming yet another shooting star shaped candle. With this in mind, it's very likely that the next move could be lower.
Euro Stopped At 1.10 in Anticipation of Trade Negotiations.
The upcoming events this week are a cause for concern for the markets. The first meeting of Chinese and U.S. representatives at ministerial level in months set to take place on October 10-11.
EUR/USD M >
Based on the early price action and the current price at 1.0989, the direction of the EUR/USD the rest of the session on Tuesday is likely to be determined by trader reaction to the uptrending Gann angle at 1.0979 and the short-term 50% level at 1.0995.
EUR/USD Daily Forecast - Euro Makes Another Run at the 20 DMA.
EUR/USD is seeing some buying pressure in early European trading on Tuesday and is making another attempt at the 20-day moving average after ranging for the past two sessions.
EUR/USD Price Forecast - Euro pressing major resistance.
The Euro has initially gapped higher to slightly on Monday, fallen to not only filled the gap and go below there, only to turn around and press against the major 1.10 level. However, there is a lot of noise above in multiple forms to keep this market somewhat depressed.
EUR/USD M >
Based on the early price action and the current price at 1.0992, the direction of the EUR/USD the rest of the session on Monday is likely to be determined by trader reaction to the short-term 50% level at 1.0995.
Euro Is Up for Further Growth.
Early in another October week, EUR/USD is consolidating at 1.0983, but may yet continue growing.
EUR/USD continues the Positive Sentiment from the Last Week.
September ended for the EURUSD in the worst way possible - on the long-term lows.
EUR/USD Daily Forecast - Euro Falls in a Range Below 1.10.
EUR/USD is under a bit of pressure in early trading but is holding within a range that started on Thursday.
US Employment Data Supported Markets and Slightly Hurt The Dollar.
The report on the labour market in the US turned out to be very favourable for stock markets and at the same time makes doubts about the further development of the dollar growth.
EUR/USD Weekly Price Forecast - the Euro continues to drift lower.
The Euro has gone back and forth during the previous week, showing signs of choppiness and perhaps a short-term supportive area. However, when you look at the daily charts, we have a couple of shooting stars that shows just how difficult the 1.10 level will be.
EUR/USD Price Forecast - Euro still showing signs of resistance.
The Euro rallied a bit during the trading session on Friday, reaching towards the 1.10 level yet again. However, we have seen selling there as well, so it makes sense that sellers will continue to defend that level and what has been a strong downtrend.

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forex Technical Analysis & Forecast: EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, USD/RUB, Gold, Brent, BTC/USD.
EUR/USD, "Euro vs US Dollar"
EURUSD has reached the target of the first ascending impulse; right now, it is forming a new consolidation range around 1.0970. Possibly, the pair may expand the range towards 1.0983 and then fall to reach 1.0960. If later the price breaks this range to the downside, the instrument may form a new descending structure towards 1.0944; if to the upside - start another growth with the target at 1.1002.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
GBP/USD, "Great Britain Pound vs US Dollar"
GBPUSD has completed the first ascending impulse; right now, it is consolidating at the top close to 1.2089. If later the price breaks this range to the downside at 1.2070, the instrument may continue trading downwards to reach 1.2025; if to the upside - form one more ascending structure with the target at 1.2220.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
USD/CHF, "US Dollar vs Swiss Franc"
USDCHF has completed the descending impulse at 0.9860. Today, the pair may start another growth to reach 0.9894 and then form a new consolidation range between these two levels. If later the price breaks this range to the downside at 0.9860, the instrument may form a new descending structure towards 0.9820; if to the upside at 0.9898 - resume trading upwards with the target at 0.9930.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
USD/JPY, "US Dollar vs Japanese Yen"
USDJPY has broken Triangle pattern and may continue the correction. Possibly, today the pair may reach 106.12 and then start a new decline towards 105.70. Later, the market may form one more ascending structure with the target at 106.16.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
AUD/USD, "Australian Dollar vs US Dollar"
After completing an upside continuation pattern at 0.6725, AUDUSD has finished one more ascending structure. Today, the pair may form a new consolidation range at the top of this impulse. Possibly, the price may expand the range towards 0.6787, fall to reach 0.6757, and then grow to return to 0.6770. If later the price breaks this range to the downside, the instrument may form a new descending structure towards 0.6717 if to the upside - start another growth with the target at 0.6890.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
USD/RUB, "US Dollar vs Russian Ruble"
USDRUB has reached 67.07; it looks like the price is forming Double Top pattern. Possibly, the pair may rebound from it and then start a new decline with the first target at 66.25.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
USD/CAD, "US Dollar vs Canadian Dollar"
USDCAD is still moving upwards to reach 1.3400. Possibly, today the pair may be corrected to test 1.3300 from above and then form one more ascending structure towards 1.3400. Later, the market may start a new correction to reach 1.3355 at least and then grow with the target at 1.3434 to finish this wave. After that, the instrument may continue trading downwards with the target at 1.2950.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
XAU/USD, "Gold vs US Dollar"
After breaking Triangle pattern, Gold has completed one more structure. Today, the pair may reach 1550.60 and then form a new descending structure with the target at 1533.90.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
BRENT.
Brent has finished another ascending impulse towards 58.85; right now, it is consolidating to break the channel's upside border. If later the price breaks this range to the upside at 58.88, the instrument may resume trading inside the uptrend with the first target at 59.60; if to the downside at 58.50 - complete the correction at 58.20 and then start a new growth towards the above-mentioned target.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
BTC/USD, "Bitcoin vs US Dollar"
BTCUSD has completed the first descending impulse at 10461.00 along with the correction at 10592.00. Possibly, today the pair may fall to break 10460.88 and then continue trading downwards with the target at 10092.00. However, the price may choose an alternative scenario to form one more ascending structure towards 10790.00 and then start a new decline with the target at 9900.00.
Risk Warning: the result of previous trading operations do not guarantee the same results in the future.
Forecasts presented in this section only reflect the author's private opinion and should not be considered as guidance for trading. Roboforex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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EUR/USD.
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Playing the Resistance at 1.10 in EUR/USD as Long as it Lasts.
About the EUR/USD (Euro/US Dollar)
The EUR/USD is the most frequently traded currency pair in forex, nicknamed the Fiber. Representing two of the largest economies in the world, the value of the EUR/USD depends significantly on the relative economic strength of each nation. It's not much of a surprise that the EUR/USD is the most popular traded currency pair in the world. But while strong volatility and volume bring day traders from all over the world to EUR/USD, producing substantial profits is no straightforward feat.
The currency pair indicates how many US dollars (the quote currency) are needed to purchase one Euro (the base currency). For example, if the pair is trading at 1.20, it means that it takes 1.20 US dollars to buy 1 Euro.
What Determines the EUR/USD Exchange Rate?
Several factors can impact the EUR/USD valuation, including:
ECB & US FED Monetary Policies: The European Central Bank and the Federal Reserve control the supply of money in the market, to keep the economy on track. A dovish policy, which is also known as expansionary policy, weakens the currency. In contrast, a hawkish monetary policy (contractionary policy) strengthens the single currency Euro.
Economic Events:
Any movement in the US and Eurozone economic events determines the exchange rates. Top of the line economic events include GDP, Employment Change, Industrial Production, and Consumer Price Index. Better than forecast data increases the demand for the related currency and impacts the value of either the Euro or the US Dollar, causing fluctuations in the EUR/USD exchange rate.
Major Economic Events:
Gross Domestic Product - the Gross domestic product is the central measure of economic growth in the region. Employment Change - The Euro is also sensitive to changes in employment, particularly in the Eurozone's largest economies like Germany and France. Consumer Price Index - Since one of the goals of the ECB is to maintain price stability, they keep an eye on inflation indicators such as the CPI. If the annual CPI deviates from the central bank target, the ECB could make use of its monetary policy tools to keep inflation in check German Industrial Production - This measures a change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. Political Events - Another critical factor is the political aspect. Instability, as seen in the Brexit referendum, can entirely change the direction of the currencies. The real challenge begins in keeping an eye on the various countries within the Eurozone. So, stay up-to-date on the latest political and economic news.
EUR/USD Specifications.
The EUR/USD is traded in amounts denominated in the US Dollar. Standard lot Size: 100,000 Mini lot size: 10,000 One pip in decimals 0.0001 Pip Value: $10.
Formula:
Pip Value Dollar = Pip in decimal places * Trade Size.