The EUR/AUD currency pair includes very different essentially currencies. Euro is one of the most significant currencies in the world, and the Australian dollar is just a commodity currency.
The volatility indicator of this pair has a very high level, which allows you earning good money even for one day. For experienced traders and even for beginners it's an excellent trading opportunity.
This pair refers to cross rates since the American dollar is not directly one of them. Nevertheless, both currencies of this trading pair undergo a process of conversion both when they are bought and sold through USD.
It's very difficult to make an accurate forecast of this pair for a long period of time. This is due to the fact that too many different factors affect the change in the currencies prices. Thereby, EUR can be influenced by economic and political news of the world at the same time. The change in AUD price is most affected by commodity prices and Australia's economic performance.
If you look closely at the chart of this currency pair, you may see that it contains serious distinctive features from most other assets. This is shown in the price movement, it changes very sharply, and the trends are most often very short. However, certain trends can still be noticed.
The most serious changes in this currency pair often occur on Wednesday and Thursday. Least of all, these currencies are subject to change on Tuesdays. If we look at the volatility of the pair during the day, then you see that it’s perfectly traded when the Sydney exchange carries out its work in the Pacific session.
Despite the fact that this currency pair is not very popular, trading this currency pair can be very profitable precisely in short terms. Don't make the long-term forecasts because too many factors influence the change in the price of these currencies, which makes qualified forecasting almost impossible. To successfully trade this currency pair, it's necessary to use all kinds of tools, especially online charts.
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