USDCAD Forex Chart.
Understanding live exchange rates. OANDA is electronically connected to numerous global banks to access the best currency rates for its forex traders, and electronic algorithms on OANDA’s fxTrade servers update exchange rates tick-by-tick, in periods of less than a second. Get latest market information about EUR/CAD pair including EUR CAD Live Rate, News, Euro and Canadian Dollar Forecast and Analysis.
It is used to ascertain the value of the Euro against the US Dollar, telling traders how many Dollars are needed to buy a Euro. The Euro-Dollar is the most popular currency pair because its constituents represent the two largest and most influential economies in the world.
The US Dollar is the most traded currency on the forex market, and the Euro is the second most traded currency. Designed to facilitate cross-border trade between EU nations, the Euro was launched on December 31, at a rate of 1. Initially a digital accounting currency, it entered circulation within 11 EU countries on January 1, and ended that day of trading at a rate of 0. However, it fell significantly as a result of the financial crisis — hitting 1.
Since then, Euro-Dollar has traded roughly between 1. For live analysis, view our news and technical analysis articles below. The Euro-Dollar is attractive to forex traders because it offers high liquidity — a factor that often results in low spreads. It can also be a highly volatile pair, which creates opportunities for speculation. When you see the price increasing on the chart, it could mean one of three things. It could mean that the Euro is strengthening, that the US Dollar is weakening, or that both are happening simultaneously.
Whether you look at price patterns or fundamental news events, the chart can give you a sense of current trends. Find out the fundamentals that look likely to drive future price action. Euro Q1 Fundamental Forecast: For the Euro, being in a situation where political risks are cropping up while growth and inflation expectations are going down does not bode well for the future.
Euro Choppiness to End Soon. FX Setups for the Week of January 7, David Song Currency Analyst. But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.
All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.
When trading through Tradingfloor. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.
Please read our disclaimers: His targets are 1. Disclaimer The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor. W1 FX technical sentiment: W51 FX technical sentiment: W50 FX technical sentiment:
The Euro-Dollar is the most popular currency pair because its constituents represent the two largest and most influential economies in the world.
Price seems to have completed a confluence of various degrees 3-wave structure, and is ready for a move lower. Euro Technical Update and trading opportunity::