Eur Usd Chart Live

The EUR/USD can be a volatile currency to trade, not as volatile as the GBP/USD but still volatile enough to warrant some serious attention to detail when trading it. One of the key things to remember about the Euro is it will tend to move in the same overall direction as the British Pound when trading against the dollar, keeping this in mind at times of consolidation will serve you well.

There is one significant difference to trading the EUR/USD compared with trading any of the other major currency pairs; that is the effect the USD/CHF currency pair has on the Euro. I trade the six major currency pairs; AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF and USD/JPY. Eur Usd Chart Live

When I have all six charts set up on a monitor at once, they run from left to right for the first three and left to right again for the last three, underneath the top three. This gives you a block of six charts and places the USD/CHF directly underneath the EUR/USD.

How is this relevant? I hear you ask. Adjust your charts so they are on the same time frame and you will see that the USD/CHF exactly mirrors the EUR/USD, not just most of the time but nearly always a butterfly image. The mirrored image in not indicative to price so when one currency is hitting a resistance level or psychological number the other may be stalling or showing support for no apparent reason.

So know we are faced not only with the dilemma of trying to get one currency right but having to look at a second currency to see how it is going to effect the entry point on the currency pair that we wish to trade. To give a clear example of this; if the Euro had just made a new high for the day and was looking good for a buy, I would need to check that the Swiss Franc was not about to come up to a support level or psychological number before I entered the Euro. If I enter the Euro and the CHF suddenly hits a pivot point and reverses then it is very likely the EUR/USD will reverse as well. Eur Usd Chart Live