EUR/USD LIVE BUY SELL SIGNAL ONLINE | FX ROBOT
WHAT FACTOR MAY AFFECT THE PRICE OF EUR/USD
The main factors influencing the drastic change in EUR / GBP are
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EUR / USD Recommended Trading Hours
The London market begins with the opening at 7:00 GMT and ends with its closing at 16:00 GMT.
Within this period of time the opening of New York also happens at 12 GMT.
and arrival of its final phase of the interval and the closing of London with the first hours of negotiation in New York.
The London and New York market begins with the opening between 7:00 GMT and 16:00 GMT, characterized by greater volatility and lower prices, so the possibility of obtaining benefits is greater, although it is also risky.
Why is the EUR / USD pair attractive to traders?
The reason is because this currency is the most traded and has easy access to its indicators as everyone knows that Europe and the United States represent two of the largest and most influential economies in the world. And since the dollar is still the most popular reserve currency in the world, the rise of the euro and international rise has led it to become the second most used reserve currency in recent years.
History of the currency pair EUR/USD
The history of the euro has just started and is newer than other currencies,
since EUR coins and banknotes only entered circulation on January 1, 2002 in the European Union and its 12 States, in those years they also adopted the euro the mini states such as Vatican City, Monaco and San Marino, and In 2011 Andorra finally manages to sign a monetary agreement with the European Union,
which would come into force on April 1, 2012, which officially put the euro in Andorra,
since Andorra had unofficial agreements with countries of the European Union.
The British pound dates back about 775 years. After decimalization in 1971, it evolved to its current, modern state.
Statistics show that (GBP) is the fourth most traded currency by traders in the forex market and it represents a high portion of daily trades worldwide.
Past events that affected the exchange rate of the British pound include: the depreciation of the US dollar in 1965, which affected interest rates on the British pound; the departure of the United Kingdom from the Exchange Rate Mechanism in 1992, and in 2001, when prices fell again when the bubble of the points of the 1990s finally burst.
The institutions that cause a greater proportion of impact on the currency pair are the European and United States central banks and the Federal Reserves.
2. Financial reports
(CPI) "Consumer Price Index" this measures inflation, and is the most important indicator of economic health.
(GDP) "Gross Domestic Product", tells us what state the economy has if it is stable, strong or healthy.
(PMI) "Purchasing Managers Index", this is another way that an estimate can be made of how healthy the economy is that significantly affects the strength of a currency.
There are many other different economic reports, however these are the ones that represent the most importance and should be considered first by all traders.
3. political instability
How policies can affect currencies: At all exchange rates, any political problems or instability can affect the EUR / USD pair. one of the examples is that if a country threatens the coalition countries of France, Germany, Italy or Russia. The political or financial instability in Russia is also a warning sign for the EUR / USD, due to the large amount of investments in Russia, as well as the news of decisions used to continue having relations with a certain country or not.
4. Interest rates
The economic theory shows that there is an interrelation between interest and exchange rates. It is known as the "International Fisher effect". And in most cases it is. Generally, currencies can go up or down according to the interest rates of the economies. One example is, when United State interest rates are higher than those of the European Union, the US dollar will strengthen against the euro. It is the opposite if the interest rates are higher than the eurozones they cause the dollar to weaken.
Therefore in summary, it is important to say that the EUR / USD currency pair is the pair that is at the beginning in the forex market because it brings together all the important economies. If a traders want to trade it successfully, it is mandatory that they take into account many other factors, such as the sessions during which the pair is most active, the institutions and different personalities whose comments and decisions create volatility, political instability and, not least the economic reports showing growth and health of the economy.
Sessions is a very important factor. Traders need to know when the pair may be more volatile and when trading is minimal. Typically the pair trades a little less during an Asian session because important data and significant events for the EUR / USD pair are posted in the European and US sessions.
It is important to note that the market follows every meeting of the central banks and the speeches made by the president. It will create volatility in the stock market.