To make money on the difference in exchange rates, you need to know the asset with which you are going to work. The Euro currency is a pro-cyclical currency. Knowing this, you can earn on long-term transactions.
Cyclic currency - This is a currency showing growth during periods of global economic growth.
The pro-cyclical currencies also include, in particular, Canadian and Australian dollars.
EUR (Euro) - is the official currency for 19 countries of the European Union (EU):
- the Netherlands,
The Euro currency is also the national currency for another 10 countries outside the eurozone: Andorra, Monaco, Vatican, San Marino, Akrotiri and Dhekelia, Saint Barthelemy, Saint Martin, Saint Pierre and Miquelon, Kosovo, Montenegro. However, these 10 countries, unlike the countries belonging to the European Union, cannot influence monetary policy in any way and send their representatives to European Central Bank.
The Euro regulated European System of Central Banks (ESCB), headed by European Central Bank (ECB), Which is located in Germany, in Frankfurt city. European Central Bank has the exclusive right to determine the monetary - credit policy throughout the European Union. At the head of the ECB is the chairman Christine Lagarde and more 5 people (Vice-President and members of the board), which is determined by a vote of monetary policy, set interest rates and manage the official reserves of the ESCB.
Decisions of the Board of Governors makes the management instructions to the national central banks. Release of the money can be engaged as national central banks and the European Central Bank. The decision on the euro issue is only the responsibility of the ECB Governing Council.
Online trade Euro dollar the most popular and volatile pair, whether binary options or forex. For traders from Russia, of course, trade Euro ruble. Among the most popular pairs to trade with the Euro, you will find EUR / JPY, EUR / GBP, EUR / AUD, EUR / CAD, EUR / NOK, EUR / ZAR.
Personally, I am trading EUR / USD less (mostly only economic news calendar). This currency pair is characterized by sharp jumps, reversals. Therefore, trading more risky. I prefer the currency pair EUR / GBP. Well amenable to analysis and rarely fails.
В Euro trade it is important to follow the news of the economic calendar for binary options and forex, which affect the entire Eurozone. And, of course, be aware of when ECB President Christine Lagarde is giving a speech. According to my observations in the conclusion of his speech, the euro exchange rate is likely to go up within 30 minutes or one hour. You can always follow the quotes on my live schedule.
I wish you a successful trading the financial markets, and never miss the opportunity to earn money!
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