The EUR/USD currency pair is the most popular and widely traded among professional traders, boasting higher-than-average volatility, high liquidity, and narrow spreads on ECN accounts. Understanding the factors influencing this currency pair and staying updated on market forecasts is crucial for informed decision-making and minimizing risks.
Traders Union has recently released its EUR-USD forecast to assist traders in navigating this important currency pair. Traders can access this forecast and other valuable resources on Traders Union’s website to stay informed and make profitable trades in the dynamic world of forex.
Is the EUR/USD pair suitable for novice traders?
According to Traders Union experts, novice traders should ideally choose a currency pair with lower volatility and a more predictable price forecast. The complexity of predicting EUR/USD price movements stems from the various factors originating from the US and Europe. Traders must monitor and evaluate all fundamental factors while assessing which of these influences (from either the US or Europe) is stronger and the difference between actual statistics and forecasts.
What Influences EUR/USD long-term price forecast
TU experts highlight several factors that significantly impact the EUR/USD long-term price forecast:
- Macroeconomic factors such as inflation, unemployment, public debt, and monetary policy all impact the long-term forecast for EUR/USD;
- The value of other assets, especially U.S. stock indices, can influence the currency pair as investors move money from the U.S. dollar to the stock market;
- Trade wars, particularly between the U.S. and China, can directly impact the price of USD due to changes in import and export levels;
- The price of energy resources, particularly oil, and gas, indirectly affects EUR/USD, with the U.S. having significant oil resources compared to energy-dependent Europe.
What are the best strategies for trading EUR/USD?
TU analysts suggest that various strategies can work well for trading EUR/USD due to its high liquidity and volatility. Scalping and swing trading are suitable for this currency pair, as are relatively stable trend movements for position trading. The pair also reacts well to macroeconomic statistics. One of the simplest strategies involves trading on the M5-M15 interval based on the Non-Farm Payrolls statistics, a report on changes in the number of new jobs in the U.S.
Price prediction methodology of Traders Union
Traders Union utilizes a variety of tools and instruments for making price predictions:
- Basic instruments of technical analysis: The forecast relies on essential technical indicators, with the analysis performed mostly on medium and long-term timeframes for more accurate results.
- Statistical tools: These tools enable experts to evaluate the probability of events that may influence currency prices.
- Individual features of a cryptocurrency startup and its competitiveness: Factors such as the number of tokens in free circulation, restriction of emission, the potential usefulness of the startup for society, roadmap, and development plans, the potential vulnerability of the startup’s blockchain, examples of hacks, failures in the entire history of cryptocurrency existence, capitalization dynamics compared to key competitors, and share of major coin holders are all considered.
Where can I find EUR-USD live forecast?
Traders Union’s official website offers live forecasts for EUR-USD and other currency pairs such as Dollar to ZAR, EUR/INR, EUR/AUD, USD/CAD, AUD/USD, and more. Forecasts are available for various timeframes, including 1 day, 1 week, and 1 month. Additionally, the website provides indicator-based technical analysis of EUR/USD, current EUR/USD charts, the latest exchange rates, and other valuable information.
Conclusion
It is crucial for traders to have a thorough understanding of the various factors that influence the price of EUR/USD and to keep themselves updated on market forecasts. Traders Union provides a wealth of resources, such as live forecasts and expert analysis, to help traders make informed decisions and minimize risks in this volatile market. For more information and to stay up-to-date, please visit the official website of Traders Union.
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