As one of the most heavily traded currency pairs in the forex market, the Euro to Dollar (EUR/USD) pair offers a wealth of opportunities for both professional traders and investors. With its high liquidity and volatility and a narrow spread on ECN accounts, the EUR/USD pair is a popular choice for those looking to capitalize on the ever-changing global economic landscape. However, given the fluctuations in the market, traders must stay informed about the latest developments and forecasts provided by experts in the field.
Traders Union, a leading trading platform, has recently published Euro to Dollar forecast. These forecasts provide valuable insights into the pair’s future movements, helping traders make informed decisions about their trading strategies.
What are the risks of trading EUR/USD?
TU analysts outline the main risks of trading EUR/USD as follows:
- An error in evaluating the importance of a fundamental factor: Traders might need to accurately assess the significance of specific factors, leading to incorrect predictions and potential losses;
- Influence of market makers: EUR/USD is a popular currency pair among short-term large speculators, who can significantly impact the market;
- Underestimation of geopolitical risks: Overlooking geopolitical risks can lead to unexpected price movements and losses for traders;
- Force majeure factors: Unforeseen events can substantially impact the price of the currency pair.
What indicators of technical analysis can be used by novice traders for trading EUR/USD?
Traders Union recommends the following technical analysis indicators for novice traders trading EUR/USD:
- Trend indicators and oscillators: Trend indicators provide the main signal, such as the crossing of price and moving averages lines or divergence of Alligator lines. Confirming oscillators include RSI, MACD, CCI, and Stochastic.
- Channel indicators: Bollinger Bands, Envelopes, Keltner channel, and Darvas box can help traders identify price trends and potential breakouts.
- Chart instruments: Trading on reversal patterns, breakout of flat corridors, trading trend lines, and support and resistance levels can offer valuable insights for trading decisions.
What Influences EUR/USD long-term price forecast
TU experts have identified key factors impacting the EUR/USD price:
- Macroeconomic statistics: Factors such as discount rate, inflation, unemployment level, quantitative easing policy, and public debt influence the price. Statements from central banks’ representatives and information about monetary policy prospects have short-term impacts.
- Value of other assets: US traders view EUR/USD as speculative. When US stock indices rise, money moves from the US dollar to the stock market.
- Trade wars: The ongoing economic and political confrontation between the US and China affects US import and export levels, thus impacting the USD price. The EU is not directly involved in these trade wars.
- Price of energy resources: Oil and gas prices indirectly impact the price, as the US is one of the largest oil importers. The US has ample resources, unlike energy-dependent Europe.
Where can I find Euro to Dollar live forecast?
The Euro to Dollar live forecast and live forecasts for other currency pairs can be found on Traders Union’s official website. Traders Union offers various timeframes, such as EUR/USD forecasts for 1 day, 1 week, and 1 month. The website also provides indicator-based technical analysis of EUR/USD, current EUR/USD charts, the latest exchange rates, and more valuable information for traders and investors interested in the EUR/USD currency pair.
The Euro to Dollar currency pair is an essential element in the forex market, attracting both professional traders and investors due to its high liquidity and volatility. To make informed decisions and minimize risks, traders should be aware of the factors influencing the EUR/USD price, use technical analysis indicators, and stay updated on the latest market forecasts. Traders Union is a reliable source for live EUR/USD forecasts and other valuable information related to the forex market. To learn more and stay informed, visit Traders Union’s official website.