What's Happening with the EURUSD Today?
The best news on the EURUSD can be found at Pound Sterling Live for political and news based commentary. For trading related updates, you can check out the following resources and see if they all match up to what your analysis says:
Sometimes you can find trading ideas from Trading View on the Euro Dollar as well.
EURUSD Explained
The Euro Dollar is a major currency pair and is part of the Forex asset class. Speculative traders use the EUR USD as a derivative through a broker and can trade using leverage. The two currencies are the Euro (the base currency) and the US Dollar (the term currency).
When considering the Euro Dollar, it is important to note the types of transactions the market will be experiencing. Forex is a little different to many investments as it contains players from all areas of the finance world, not just investors looking to profit.
Think of all the travelers that will be going too and from USA and Europe. They will need to convert their spending money to and from. Consider the business transactions between the two countries, on both a domestic and commercial level. Also, there’s the multi million dollar Merger and Acquisitions (M&A) between the two currencies. Not to mention the traders and investors that will be speculating on price now, factoring in forward contracts and FX options. Lots of players to consider, with differing intentions and needs, which means it’s not always as simple as reading a technical chart. Reading the minds of every traveler, businessman, investment banker and investor is a skill I am unaware of somebody having, so it is vital that you keep your discipline in check in the event that your trade goes the other way.
EURUSD Forecast
The EURUSD forecast can be assessed by a multitude of methods. That might be technical or fundamental and if you want to know how to forecast assets for yourself, check out this course on Forex Trading
0 Comments