Dollar to Euro exchange rate difference and making Profits from it

Yes, the exchange rate has changed from yesterday, right?
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In fact, the Dollar to Euro rate is changing by fractions every moment. You can make a huge income from these tiny little ups and downs of this USD to Euro or Pound to Euro rate, if you are smart enough. You may have to spend some time to learn how to do it, but you can do it without spending a dime.

Certainly you may have heard of Forex Trading. It simply opens the gate to average people like you and I to earn a decent income, working at any time, any where we want. In the forex trading industry, the fractional ups and downs of currency exchange rates are calculated to the 4th or even 5th decimal place, and trade currencies in a general virtual market collectively where all the buyers and sellers connect online 24/5. The amounts of daily transactions are very high, so small changes in currency exchange rates can make large sums of profits.

In order to do this, you need an online trading platform. Its not rocket science, it helps you by providing graphical views of currency exchange rates and tons of indicators, tools and all that stuff. You also need the online trading platform to get in and out of a trade. MT4 is one of the most used amongst thousands out there, and your forex broker will provide you the online trading platform for absolutely free, with all the training stuff you need.
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Forex broker is the institute that provides facilities for you to take part of this exchange of Pound to Euro or Dollar to Euro online. They also offer demo forex trading accounts with fake money for you to practice. There are some Forex brokers who offer you free real money to trade and make profits for yourself. You can collect over 250 USD free welcome bonus real money to trade from these Forex brokers, I also have opened accounts and got bonuses very easily and continue to trade using those free bonuses.

 After opening an account, the broker will give you the link to download the trading platform. There are tons of websites, blogs, videos, webinars and all to teach you the basics of Forex Trading and you must follow and learn the basics, indicators and analyzing them as well. Remember these indicators and technical drawings may have very big strange names but when you start to use them you’ll see how simple they are.

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Start using a forex demo account first and test what you’ve learned. Stick with your strategies until you can master them. A forex demo account  only differ from a real account by using just a number that looks like what you may have in your real account as a capital. Forex broker will offer you leverage from 1:100 to even 1:1000, so your free bonus is enough to make some profit to start with. By this way, you won’t lose anything to try and learn this highly profitable Dollar to Euro or Pound to Euro converting business.

Click here to receive a total of 250 USD free bonuses from tested top brokers.

Weekly technical level forecasts of major currency pairs - 
EUR/USD     AUD/USD     USD/CAD


The most Popular Forex Trading Strategy – Trend Following.

Trend following is maybe the most popular long-term strategy in all monetary markets. It is exceptionally effective and beneficial when the conditions are favorable, is quite uncomplicated in its methodology, and there are many persons who have exercised this strategy to victory and riches. We must note that the technical part of trend following is in fact pretty easy, but also that it requires discipline, correct money management, and patience. We at Forex Trading Tips, believe trend following strategy is not short-term, and persistence and determination are as essential as correct analysis as an outcome. 


Trends are produced by powerful underlying financial factors which may not be all that understandable to those who are unfamiliar with fundamental analysis. But the simple patterns formed by the price action in reaction to the economic events can often be identified through methods that are simple to learn and apply. Thus, the retail trader has as much possibility of success as skilled analyst if he can control his emotions and perform reasonably.

To apply this strategy we should first be aware of the existence of a trend. Without identifying a trend we would be gambling, and that’s not the idea of trading FX. Both fundamental and technical analysis can be engaged for identifying a trend, and both of them have their advantages and disadvantages. It is a good idea to use a mixture of them for deciding on the trend’s nature, and deciding on our entry and exit points.

To use trend following method, you must first decide whether you want to employ technical or fundamental analysis for your method, or a mixture of both.


The fundamental analysis can supply you with information which can forecast the strength and length of a trend, while technical analysis can show you how it builds up. It is likely to base your strategy on one of these to the exclusion of the other, and it is still possible to turn a profit if you are lucky enough, but we have to reduce the role of luck to as slight as possible. Fundamental analysis is more trustworthy than technical analysis in defining a trend that has long term potential, but without technical analysis it would be very difficult to choose at what time or how to trade. Technical analysis can propose the start of a trend, but it’s unlikely to tell much about the length or strength of the same. Thus, we at Forex Trading Tips advise you may use both technical and fundamental methods for your trend following strategy, with fundamental factors removing the false signals of technical analysis, and technical tools provide you with a time-price frame for deciding on access points.There are a lot of technical tools that can signal the existence of a trend, but there are an equal number of false signals generated by them. There are only three types of trends that can be present at any time: flat, up or down, and it is likely to consider of trends between any two points on a price chart. Simply take two casual points on a price chart, draw a moving average on it and the pattern that comes up can be analyzed as a trend. Thus it is always essential to have at least some basic understanding of the financial factors that can generate trends, before deciding on the accuracy of a chart pattern. You can do that by familiarizing yourself with the big picture; understand what drives market contributors; be aware of the stage of the trade cycle.

A trend can be formed when there is some motivating certainty behind the price action which allows the trader to easily identify it visually. The trend that we search to trade is dissimilar from random variations, range patterns and comparable price movements in that the price itself, in the absence of any technical indicator, can still be recognized as showing a trend. Consecutive highs and lows should represent a rising or falling pattern in an uptrend or downtrend respectively, with relatively few irregularities. But such a case is frequently a rarity, and the trader will have to back his technical patterns with assurance that may only be gained through fundamental analysis.


Even though a trend can be identified without any technical tools, we still need technical tools to trade it, and time it. The main principle of a trend following strategy is, recognize the trend, identify counter-trend moves, and use them to enter a trade in the direction of the trend. Market timing in the background of a trend, with the intention of picking the counter-trend extremes, and using them to enter a trade, is required and beneficial. Also we at 
Forex Trading Tips want you to remember market timing never works when one is trying to expect reversal points on only a technical basis. The basement of all trading is to utilize short-term irrational behaviors of the market in order to enter into long-term positions in positive alignment with basics. 


A trend follower should maintain his position for as long as the fundamental reasons that support the trend are leading. A trader can use technical patterns to time his exit point when he cannot recognize those reasons, or if he doesn’t trust for some unfathomable reason, that they are functional. Even if the trader is attentive to the fundamental reasons, and is able to calculate them correctly, technical analysis can provide him with a very useful early advice system. If the price action is suggesting powerfully that there’s some fault in the trader’s fundamental point of view, he can use the technical signals as an occasion to have another look at his fundamental picture. 



The best tools for trend following are produced by moving averages with simple price charts. Bar charts, candlesticks and many others can be similarly useful if engaged with moving averages. For instance, between October, 2007 and May 2008, the price action of USD/SGD always stayed below the 100-day moving average. And when the pattern collapsed, in June 2008, the trend had also broken down, and the price went on to crack the 200-day average, and a medium-term rising trend was formed. It is also possible to use changing average crossovers, and countless other methods, but any method you decide to use, we at Forex Trading Tips warn, you must ensure that you do not obscure the main feature of your strategy, which is trend following.


If you are a weekly or daily basis trader, the 100-day MA will most likely be able to capture the majority of the main trends for you. Anything with a longer time frame is likely to be insignificant because of too much data discarded, and a shorter time frame that is way below the 100-day period may be too responsive to price action. But as usual, one can use other timeframes below 100, given that he doesn’t mess his monitor with lots of indicators, charts and tools.


When trend following, placements of stop-losses and take profit orders depend on the term and environment of your method. A stop-loss order can be placed a short distance above or below the trend line, whether it is presented by the moving average, or a simple line drawn on the chart. And the trend follower should not recognize his profits until he has a very good explanation to do so. The principle of this strategy is to focus on underlying price dynamics by stripping out instability and short term movements, and there is little reason to realize profits in response to variation which are irrelevant to the core action of the trend. So the conclusion is to go as far as the trend goes and then you can take your profits. You can use the market analysis to decide how far a trend goes, but it’s far better to discover the fundamental reasons behind a trend, and then to exit the trade once those causes are no longer sustainable.


Happy Trading.
Forex Trading Tips

FORECAST - EUR/USD - May 29 – June 02, 2017

Euro/Dollar had an upbeat week, as predictions keep on looking healthier in the euro-zone than in the USA. The approaching week features basically inflation figures and PMIs. Let’s see the highlights of this week and a technical analysis for the EUR/USD pair.

Monetary data - Monday, 8:00 GMT.
Mario Draghi talks - Monday, 13:00 GMT
German Import Prices - Tuesday, 6:00 GMT
French Consumer Spending - Tuesday, 6:45 GMT
French GDP - Tuesday, 6:45 GMT
Spanish Flash CPI - Tuesday, 7:00 GMT
German CPI - Tuesday 12:00 GMT
German Retail Sales - Wednesday, 6:00 GMT
French CPI - Wednesday, 6:45 GMT
German Unemployment Change - Wednesday, 7:55 GMT
CPI (Euro Zone) (preliminary) - Wednesday, 9:00 GMT
Unemployment Rate - Wednesday, 9:00 GMT
Manufacturing PMIs - Thursday morning: Spain - 7:15, Italy - 7:45, France - 7:50, Germany - 7:55, and the all-European update at 8:00 GMT
Spanish Unemployment Change - Friday, 7:00 GMT
PPI - Friday, 9:00 GMT

Support and Resistance levels for EUR/USD (Technical Analysis)

1.1420 - Strong Resistance
1.1360 - Strong Resistance
1.1300 - Strong Resistance (Round Number)
1.1266 - Strong Resistance
1.1160 - Strong Support
1.1120 - Weak Support
1.1000 - Strong Support (Round Number)
1.0950 - Weak Support
1.0870 - Strong Support
1.0820 - Strong Support
1.0775 - Weak Support
1.0720 - Strong Support
1.0660 - Strong Support

We remain bullish for EUR/USD.



FORECAST - EUR/USD - May 22 -26, 2017

Euro/Dollar reached the uppermost in six months, generally because of the weakness of the USD. The USD was declining as President Trump was surrounded by more scandals. The fears of delaying of growth friendly policies made the dollar fall. German PMIs, and the minutes of ECB meeting stand out in the past week. Let’s see the highlights of this week and a technical analysis for the EUR/USD pair.

German GDP (final) – Tuesday at 6:00 GMT. - According to the first release, the largest economy of Europe grew by 0.6% q/q.  That figure is likely to be confirmed.

German Ifo Business Climate – Tuesday at 8:00 GMT. This figure reached 112.9 in last month. Further rising up to 113.1 points are expected for May.

ECB Financial Stability Review – Tuesday at 8:00 GMT. The ECB publishes this report twice a year.

Flash PMIs – Tuesday - France at 7:00 GMT, Germany at 7:30 and 8:00 GMT for the euro-zone.

German GfK Consumer Climate – Wednesday at 6:00 GMT. This 2000 strong consumer survey, past the expectations in April, reaching 10.2 points. A repeat is expected now.

ECB Meeting Minutes – Thursday at 11:30 GMT.

Support and Resistance levels for EUR/USD (Technical Analysis)

Technical lines from top to bottom:
1.1420 - Strong Resistance
1.1360 - Strong Resistance
1.1300 - Strong Resistance
1.1170 - weak Support
1.1120 - weak Support
1.1000 - Strong Support
1.0950 - Strong Support
1.0870 - Strong Support
1.0820 - weak Support
1.0775 - Strong Support

EUR/USD pair has had three major and growing lows in this year. 1.0340, 1.0490 and 1.0565 in April. And on the topside, higher highs has appeared. Last week, the EUR/USD breach above the channel limits, and pointing upwards.

We remain bullish for EUR/USD.

FORECAST - EUR/USD - May 8th -12th, 2017

FORECAST - EUR/USD - May 8th -12th, 2017

 

Euro/Dollar climbed up ahead of the French elections second round. Will it climb up even higher? GDP and other events from the euro zone are coming up apart from the elections. Here are some major events of this week and an a technical analysis for EUR/USD.

The most recent polls look good for centrist Macron, with above 60% support. This may help the euro. Economic data also gave a boost: GDP grew by 0.5% in Quarter 1, showing increased growth. PMIs were OK, pointing to further growth and retail sales were higher than expectations with 0.3%. In the US, the Fed left rates untouched and did not seem bothered about the latest slowdown. The Fed supported the dollar, but the euro had more support.

Here are the upcoming big events :

1.                    French elections round 2: Sunday, exit polls are at 18:00 GMT and the results will release by the market open. The result in the opinion polls was favorable to the centrist, diminishing the talk of wearing down in his popularity. If the polls are as accurate as they were in the first round, Macron is set for a huge victory. This will support markets about the forthcoming parliamentary elections, giving Macron a possible majority that will enable reforms. A victory with lower than 60% might cause worry, but still prevent Le Pen becoming president. If she becomes the winner against all odds, the euro is set to fall down against the USD. Le Pen desires France to leave the euro and euro may not exist without France.

2.                    German Factory Orders: Monday, 6:00. Germany is the industrial “backbone” of the zone. Factory orders raised by 3.4% back in February.

3.                    Sentix Investor Confidence: Monday, 8:30. This survey has advanced well in recent months, reaching 23.9 in the month of April, above expectations for the 4th successive month.

4.                    German Industrial Production: Tuesday, 6:00. Like the factory orders, also industrial output has been climbed in Germany in February, growing 2.2%.

5.                    German Trade Balance: Tuesday, 6:00. Germany’s large trade surplus helps a stronger euro. After two months below the 20 billion mark, the surplus expanded again to 21 billion in February.

6.                    French CPI (final): Tuesday, 6:45. According to the preliminary read for April, prices increased by only 0.1% m/m, against the all-European movement. That will likely be confirmed now.

7.                    French Industrial Production: Tuesday, 6:45. Industrial output in the euro-zone’s second-largest economy fallen by 1.6% in February. We might see a bounce now.

8.                    French Trade Balance: Wednesday, 6:45. Opposing to Germany, France has a deficit in its trade balance. This shortage has widened to 6.6 billion in February.

9.                    ECB Economic Bulletin: Thursday, 8:00. Two weeks after Draghi was positive about growth but uncertain about inflation, we will get more data from the ECB, the data they used for making their estimations.

10.                EU Economic Forecasts: Thursday, 9:00. The European Commission releases its economic forecasts, three times a year for growth and other measures. Given the current firming of the economies, we can look forward to an upgrade of the forecasts this time.

11.                German GDP: Friday, 6:00. This is the first release of the German Gross Domestic Product for Q1 in 2017. By now, we had the all-European number, but any shocker from Germany can change that figure easily, as Germany is the largest economy. In Q4, Germany grew by only 0.4%, slightly below expectations.

12.                German CPI (final): Friday, 6:00. Prices remained same in April according to the flash data. This will likely be confirmed. The final German statistics added into the all-European statistics.

13.                French Non-Farm Payrolls: Friday, 9:00. This is a quarterly measure of employment. In quarter 4, we had a growth rate of 0.4%, encouraging given the previous, slower quarters. We now get the initial figure for Q1 2017.

14.                Industrial production: Friday, 9:00. Industrial output dropped by 0.3% across the euro-zone. Regardless of being released after the big countries will already have released their figures, the publication still moves markets.

 

EUR/USD Technical Analysis


EUR/USD began the week trading over support at 1.0870. The pair then made a move upwards, reaching new highs for 2017.

Technical lines from top to bottom:

1.1300 – Strong Resistance
1.1120 – Strong Resistance
1.1000 – Strong Resistance (psychological level)
1.0950 – weak Support
1.0870 – Strong Support
1.0820 – Strong Support
1.0775 – Strong Support
1.0720 – Strong Support
1.0660 – Strong Support

Uptrend channel stays unbroken

Euro/Dollar has had three considerable and rising lows in 2017: 1.0340 in the early of the year, 1.0490 in March and 1.0565 in April. Also on the topside, higher highs were emerged. If this remains, Euro will go up than down.

We remain bullish on Euro/Dollar