Is EURUSD a Buy, Sell or Hold?
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EURUSD Exchange Rate
Provider: EURUSD
Verdict: The exchange rate between the US dollar and the Euro is EURUSD. The Euro was created on December 31 1998, when thirteen countries decided to scrap their currencies and move into one currency.
Why buy EUR over USD:
The eurozone is showing tentative signs of bottoming out. The last six quarters saw the continent’s economic growth struggle due to the war in Ukraine, which in turn caused a massive spike in inflation and borrowing costs. Ten consecutive rate hikes by the ECB has flattened. As energy prices subside, this is bringing much relief to the economic bloc. A further rebound is possible in 2024. 24/11/23
Pros
- Downtrend broken on better sentiment on EUR
- Rebounds off major support (1.05)
- Stronger economic recovery in 2024 anticipated
Cons
- Eurozone economy still sluggish
- ECB may cut interest rates
- Rate continues to range sideways
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Outlook
(3)
Overall
3EURUSD Analysis & Guides
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The best currency pairs for most traders to trade are those with good round-the-clock liquidity that are liable to trend. That is the price following a particular direction for a fixed period of time. The more illiquid currencies whose prices move erratically are less desirable, though some active short-term specialist traders known as scalpers can