Currency pair EURAUD.

Another popular trading pair is the EURAUD, which combines the euro and the Australian dollar.

The differences between these two currencies provide a wide range of options for using a variety of forex trading strategies.

This means excellent profit opportunities, provided you understand some of the specifics of this currency pair's behavior.

As noted, the EURAUD pair is formed by two currencies: the euro and the Australian dollar. These currencies trade in different forex trading sessions: the main events for the euro occur during the European session, during the day Moscow time, while the main events for the Australian dollar occur during the Asian session, at night Moscow time.

Therefore, we monitor euro news during the day and Australian dollar news at night. This makes it easier to predict price movements and choose the right trade direction.

Trend directions are primarily influenced by news from the European Union and Australia. In the former, this includes economic reports and political statements, while in the latter, it's the publication of economic indicators and agricultural sector news, as Australia is a leading agricultural producer.

In addition to these two trading sessions, there's also the American session, which is more likely to see flat trading, with price movement noticeably slowing. However, this isn't a reason to avoid trading during this time. It's during the American session patterns in the EURAUD exchange rate can be detected.

The base currency in the pair is the euro, so positive news on the euro will trigger an upward trend , while negative news will trigger a downward trend. The impact of news on the Australian dollar is inversely related.

The EURAUD currency pair is quite attractive for trading and has a low spread.