The EURUSD currency pair, also known as the “Fiber” is one of the major currency pairs in Forex trading. As one of the most widely traded currency pairs in the world, the EURUSD has a daily trading volume that is generally considered to be very high.
This particular currency pair has been around since 1999, when the Euro was first introduced. Since then, it has become one of the most actively traded currency pairs in the world. EURUSD trading hours start at 8:00AM EST and end at 4:00PM EST each day, with a slight overlap between US and European market hours.
The performance of the EURUSD currency pair is heavily affected by a number of different factors, including economic indicators and political developments. The pair can also be influenced by fluctuations in other major currencies like the EURGBP or USDJPY. Taking all these factors into consideration when trading this particular pair can help traders make more informed decisions about their investments.
In recent years, movements in this currency pair have been heavily influenced by events such as Brexit, US-China trade tensions, and the coronavirus pandemic. The EURUSD pair reached its highest level in April 2008 at 1.6037, but has since fluctuated considerably over the past decade. During this period, it was pushed to a low of 1.0462 in March 2020 due to concerns over the impact of the coronavirus pandemic on global economies.
Looking ahead, the EURUSD currency pair is likely to remain volatile as global events continue to shape its price movements. As such, it’s important for traders and investors to monitor news stories and developments closely in order to stay apprised of potential opportunities and risks associated with this currency pair.
When trading the EURUSD, traders should take note of fundamental and technical factors that affect the pair’s price. These include economic indicators from both Europe and the United States, such as GDP growth rates, inflation levels, interest rate decisions and political events. In addition to this, traders should also consider using technical analysis tools, such as trend lines and chart patterns to determine the likely direction of the pair’s price.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
What factors influence the EUR/USD exchange rate?
The EUR/USD exchange rate is one of the most widely traded currency pairs in the world and it is influenced by a variety of economic and political factors. The most important of these are the interest rate differential between the European Central Bank and the Federal Reserve, economic growth in Europe and the United States, changes in political risk, and geopolitical events such as Brexit.
Changes in the relative strength of the Euro against other major currencies also have an effect on the exchange rate. In addition, investor sentiment towards the Euro and the US dollar can also play a role in determining the EUR/USD exchange rate. By keeping an eye on these factors, investors can gain a better understanding of the market and make informed decisions when trading the EUR/USD pair.
What is the best time to trade EUR/USD?
The EUR/USD is one of the most traded currencies in the world, so there’s no single best time to trade it. That said, there are certain times of the day when activity in this pair is higher and liquidity is better. Generally speaking, the best time to trade EUR/USD is during the London and New York trading sessions, when both of these major markets are open. This is because the EUR and USD are both primary currencies, and they’re heavily traded in both of these sessions.
During this time, you can expect to see higher volatility, which may be beneficial for traders who are looking to maximize their profits. Also, the trading volume during this peak time is likely to be higher than at other times, which can result in tighter spreads.
How can I manage risk when trading EUR/USD?
When trading EUR/USD, it is important to manage your risk in order to protect your capital. There are several strategies you can use for managing risk. One approach is to use stop losses, which will limit the amount of loss you can incur on a trade if the market moves against you.
You can also use position sizing to limit your risk. Position sizing is the practice of trading a certain percentage of your total capital on each trade, rather than trading the same fixed amount for each position. This allows you to maintain risk control over your trades, while also diversifying your portfolio.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.