Forex Signals EUR/USD in for a 3.11% loss
Forex Signals EUR/USD in for a 3.11% loss in 2016 The US dollar dropped fast and sharply during the Asian fx trading session, with EUR/USD rising to as high as 1.0650 before drifting back to the 1.05011 area.
Forex Signals – The stream of FX news has been particularly odd, with moves exacerbated amid low liquidity. EUR/USD has spent the last few hours in a range above 1.0503 and it was last trading at 1.0551, up 0.70% on the day for Forex Signals EUR/USD Forex News.
Forex Signals EUR/USD is on track to post its second weekly gain in a row, but it remains 0.37% down for the last month of the year 2016. Over the FX year, the shared currency has lost nearly 2.7%. Forex Signals EUR/USD Forex News.
EUR/USD levels to watch
In terms of technical levels, short-term resistances are seen 1.0650 (December 2016 30th high point), 1.0701/02 (psychological level / 50-day S M A). Meanwhile supports could be faced 1.0444 (11 day S M A), 1.0370 (December 2016 28th low level ), 1.0350 (low of December 20th 2016 ), 1.0331 (January 2004 low) and 1.0310 ( psychological level seen by FxPremiere Group). Forex Signals EUR/USD Forex News.
So, Why Trade EUR/USD?
The EUR/USD is both stable as well as liquid; it’s a very easy to trade pair that tends to react in fairly predictable ways.
Many forex signals cover EUR/USD and are able to offer fairly consistent returns. This is because the European economy and the economy of the United States as a whole tend to either be stable or fluctuate in fairly easily anticipated intervals. The only exception is when there are sudden economic crashes, which do not occur often — and usually affect other traders rather than forex traders.
EUR/USD can thus be considered one of the “safest” trades; it’s not prone to large fluctuations, but it still does increase and decrease over time.
Of course, there are some “meta” reasons for trading EUR/USD as well. In addition to the pair being stable and fairly predictable in many situations, it also has an incredible volume of information. From tips to tutorials, you’ll be able to find almost everything you need for this currency pair.
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