Currency pair EURAUD.

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

The dissimilarity of these two currencies provides a large number of options for using a variety of Forex trading strategies.

This means excellent opportunities for earning money, the main thing is to know some of the behavior features of this currency pair.

As already noted, the EURAUD pair is formed by two currencies, the euro and the Australian dollar, the currencies belong to different forex trading sessions, the main events on the euro take place during the European session, during the day, Moscow time, and the main events on the Australian dollar at the Asian session, at night for us .

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

The direction of the trend is mainly influenced by news from the European Union and Australia, in the first case these are reports on the economic situation and statements by politicians, in the second there are also publications of economic indicators and reports on the situation in the agricultural sector, since Australia is one of the leaders in agricultural production products.

In addition to the two mentioned trading sessions, there is also the American one, during which a flat can most often be observed, the price movement slows down noticeably, but this is not a reason to refuse trading at this time. Since it is during the American trading session that patterns in the movement of the EURAUD currency pair exchange rate can be detected.

The base currency in the pair is the euro, so positive news on the euro will cause an upward trend , and negative news will cause a downward trend. The impact of news concerning the Australian dollar has an inverse relationship.

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