Lets discuss the Euro's performance as single currency. The Euro ended this week with a negative performance versus the U.S. dollar and the Japanese yen. This week Swiss franc also gained versus the euro. Euro is at record low position versus Yen because of the situation in Greece, Portugal, Spain and Italy. The euro hit the one year record low versus the Japanese yen.
In 2009 US dollar was at low position and now in 2010 Euro getting at low position. I just hope Euro don't get that much deficit in 2010 as US dollar faced in 2009.
The complications regarding Eurozone members’ growing deficit, currency traders opted to leave massively assets in the region towards other markets. This news is in air that traders have sold off the euro due to the expected upcoming debt crises.
Today on Friday EUR/USD rate is 1.3652 while on Thursday its rate was 1.3733. EUR/JPY traded at 122.02 on Friday while on Thursday it was traded at 122.80.
Showing posts with label Euro. Show all posts
Showing posts with label Euro. Show all posts
Sunday, February 7, 2010
Monday, November 23, 2009
EUR/USD: Euro rallies past 1.4945/50 area
Euro has recovered its position in market. Euro recovery from Friday's low at 1.4800, has extended with a 100 pips rally during Asian session, reaching levels around past 1.4950 at the moment of writing; 0.65% above its day opening price.
At the moment, the Euro could find resistance at 1.4965 (Nov 19 high), and above here, 1.4990 (Nov 18 high) and 1.5015 (Nov 16 high). On the downside, support levels are 1.4910/15, and below here, 1.4875/80 and 1.4830.
EUR/GBP has continued crawling higher during Asian session, extending upleg from 0.8835 low on November 17 to 0.9040 session high on Monday. Resistance levels are 0.9060 and 0.9120. Support levels are 0.8980 and 0.8930
It was all about position of EURO today. And trend index is slightly bullish today.
At the moment, the Euro could find resistance at 1.4965 (Nov 19 high), and above here, 1.4990 (Nov 18 high) and 1.5015 (Nov 16 high). On the downside, support levels are 1.4910/15, and below here, 1.4875/80 and 1.4830.
EUR/GBP has continued crawling higher during Asian session, extending upleg from 0.8835 low on November 17 to 0.9040 session high on Monday. Resistance levels are 0.9060 and 0.9120. Support levels are 0.8980 and 0.8930
It was all about position of EURO today. And trend index is slightly bullish today.
Friday, November 13, 2009
Best Currency to Trade
By analyzing forex market tendencies it can be more precisely said that all traders should consider the Yen and Euro. If you had to pick just one, you should be in favor of the euro. Because its position in market is much strong than other currencies.
You should always consider the Swiss Franc and British Pound - if you are trading a basket of currencies, but you should also consider the Australian and Canadian dollar.
While traders often neglect the Australian and Canadian dollar, they offer an important advantage in terms of diversification.
Diversification enable currency traders to spread risk and this can increase overall capital gains and help reduce risk and volatility.
So the result of our discussion is, with regard to best currencies start with euro and yen and add other currencies in for diversification and reduction of risk.
You should always consider the Swiss Franc and British Pound - if you are trading a basket of currencies, but you should also consider the Australian and Canadian dollar.
While traders often neglect the Australian and Canadian dollar, they offer an important advantage in terms of diversification.
Diversification enable currency traders to spread risk and this can increase overall capital gains and help reduce risk and volatility.
So the result of our discussion is, with regard to best currencies start with euro and yen and add other currencies in for diversification and reduction of risk.
trading currencies
In future conditions can be changed. so dont take this article crucial, it is just in accordance with present situation of forex market. Here is a brief personality of each currency and the advantages of trading it, based upon past performance:
British Pound
Thinner volume than the Euro or Japanese yen, means that short term trading should be done selectively, but this market is more suited to long term trend following. Thin volumes and low open interest can lead to exaggerated intraday moves and price spikes.
Euro
Any trader trading currencies should trade the euro. Good volume, high open interest and great long term trends, in addition good volatility is present for day traders and its recent status as a safe haven currency, means it is suitable for all traders.
Japanese Yen
The Yen offers fantastic long-term trends and offers some excellent volatility for day traders. Its slightly more erratic short-term price spikes than the euro, make it a currency that can produce more “false” signals than the euro, but generally, it is a great currency to trade. Like the euro volume and open interest is high.
Swiss Franc
In recent years the Swiss economy has become more integrated with Europe’s and the currency has a higher correlation to the euro, but it still represents a currency with great long term trends making it suitable for long term position traders. Like the British pound, volumes are not as high as the euro or yen and day trading conditions are not so good.
Australian Dollar
Quite thin volumes and large price spikes occur in Australian dollar, but it does offer good long-term trends and a diversification away from the major currencies.
Canadian Dollar
The Canadian Dollar is very similar to the Australian dollar. It offers good long-term trends and a diversification away from the major currencies; again, it is suitable for long-term trend followers and not day traders.
British Pound
Thinner volume than the Euro or Japanese yen, means that short term trading should be done selectively, but this market is more suited to long term trend following. Thin volumes and low open interest can lead to exaggerated intraday moves and price spikes.
Euro
Any trader trading currencies should trade the euro. Good volume, high open interest and great long term trends, in addition good volatility is present for day traders and its recent status as a safe haven currency, means it is suitable for all traders.
Japanese Yen
The Yen offers fantastic long-term trends and offers some excellent volatility for day traders. Its slightly more erratic short-term price spikes than the euro, make it a currency that can produce more “false” signals than the euro, but generally, it is a great currency to trade. Like the euro volume and open interest is high.
Swiss Franc
In recent years the Swiss economy has become more integrated with Europe’s and the currency has a higher correlation to the euro, but it still represents a currency with great long term trends making it suitable for long term position traders. Like the British pound, volumes are not as high as the euro or yen and day trading conditions are not so good.
Australian Dollar
Quite thin volumes and large price spikes occur in Australian dollar, but it does offer good long-term trends and a diversification away from the major currencies.
Canadian Dollar
The Canadian Dollar is very similar to the Australian dollar. It offers good long-term trends and a diversification away from the major currencies; again, it is suitable for long-term trend followers and not day traders.
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