Every Fx neophyte should master fx analysis before he/she puts down their hard earned money into this venture. Or else coming up with a winning strategy will prove to be next to impossible. Along with having a clear understanding of the Fx market being aware of the characteristics of different currency pairs also needs to spare some considerations. The article mainly talks about the aspects to consider when conducting its analysis. Follow closely EUR USD analysis today.
What is EUR USD analysis today?
This is a widely catered currency pair and with obvious reasons. US Dollar secures the first spot on the world stage followed closely by the European Union. So naturally when they merge together, they happen to form the most important currency pair globally.
Prospects of earning are extremely high. It offers regular liquidity, and low bid spreads for traders. However for novel Fx-ers, a comprehensive study of its characteristics as well it’s keeping a close eye on its technical data and charts is important.
So if you want to get good quality EUR USD analysis today or for future trade, then here are 2 essential things to pay attention
- This pair is highly influenced by the rate of interests and undergoes a direct proportion. Example if the interest is high in US, dollar will strengthen. Similarly, if the interest rate in Europe rises, euro will also become strong. So while doing EUR USD analysis today for later operations, always keep a close watch over the interest rate swings.
- The next thing is the non-farm payroll news. This news or feeds are released every month and influence the market both short and long. Experts suggest that one should close trades just before the news release. So, if you are doing EUR USD analysis today or later, keep a hold over your trade during these times.
AUD USD analysis today
This currency pair is the 3rd most traded pair and many fx exponents regard it as quite interesting. It is known as the ‘Aussie’ and it depends amazingly on the occurrences in each of its commodity markets as well as in the Chinese markets.
New fx traders who want to get accurate AUD USD analysis today have to keep in mind certain conditions.
- The pair is highly unstable and depends highly on statistical feeds. Chinese data namely GDP, PMI, its financial coverage due to heavy members of the 2 economies and inflation series; play crucial roles for the currency pair
- Apart from this, the second aspect of quality AUD USD analysis today is the rate of interests of both its prime banks. The Reserve Bank of Australia gathers on a monthly while Federal Reserve assembles every 6 weeks. So keep a close watch on both these banks.
USD JPY analysis today
This pair is a different breed. It is very volatile and action packed. If your stars shine over you can get showered with pips but if it doesn’t then this currency will chew you in and spit you out.
So for new traders here are some important considerations:
- When trading, you should focus on the prime Japanese economic releases namely Tokyo Core consumer price index, Japanese GDP, its trade balance as well as currency account. Their releases will influence the currency value, and so you will have to keep an eye on them and plan as per them.
- The Bank of Japan sometimes intervenes in fx exchange either directly or indirectly. They release a Monetary Policy Statement, monthly basis and you will have to keep an eye on that as it will give you some important insights on the Japanese economy. Also, you should examine the US Economic data too namely retail sales report, purchasing managers index, CPI and other Fed announcements.
Though there are other considerations, referring to these considerations will help you in your EUR USD analysis today. So, not that you know about it, get started with Fx trading and reap its benefits.