EUR AUD forecast for today onlineMaking accurate forecasts for this pair is not an easy task, since the currencies involved in it and the factors affecting their exchange rate are very different: for the euro, these are economic and political events in the eurozone and demand for US dollars; for AUD, prices for raw materials (gold, non-ferrous metals, oil, etc.) and economic indicators of Australia. Such a rich set of fundamental factors greatly complicates the analysis, but looking at the long-term timeframes, the technicality of the pair and how clearly it works out the figures (inverted "head and shoulders", "double bottom", etc.) is clearly noticeable.You have seen the forecast for today for EUR/AUD, compiled solely on the basis of technical indicators, where the strongest signal is with the prefix Active.As with other assets, it is best to use your own analytics before trading, rather than relying on other people's opinions.EUR/AUD exchange rate - Chart with indicators (online)EUR/AUD Trading signals, analytics and online forecastsEven with a cursory glance at the long-term chart of the EUR/AUD pair, significant differences from most other instruments are clearly noticeable. Price movements are very sharp and broken, and trends are usually short-lived. However, certain trends can be noted.An analysis of the 20-week activity of the EUR vs AUD pair shows that today the average volatility is 150-200 points per day, and on some days it can reach 300Wednesday and Thursday are usually the most stormy, and Tuesday is the least. As for intraday volatility, the pair trades well during the Sydney Stock Exchange's Pacific session, as well as the European (London) session and at its intersection with the American one. The rest of the time, activity drops significantly, and EURAUD moves either sideways or in the previously selected direction in the mode of reduced volatility.General characteristicsThe euro/Australian dollar is a cross-pair made up of currencies that are very different in nature: the Euro, which is the second most important world currency after the USD and the raw Australian dollar.It is not surprising that in this scenario, the dynamics of the pair will be very volatile, predictability is low, and volatility is quite high.Spreads also cannot be called small, since on EUR AUD they are about 8-12 points, which is much higher than on standard major Forex pairs.The volatility is high enough to make good money inside the day, but it does not go off the scale, as in pairs with the ruble, peso or rand, and therefore not only traders with extensive experience can use it. However, the pair is still not recommended for those who have just started to master the financial markets.The EUR vs AUD pair refers to crosses, since the US dollar is not directly present in it. However, both during purchases and during sales, currencies are converted via USD. The euro acts as the main currency and is purchased for Australian dollars. The rate output on most charts is standard, four–digit (1.4629), and on terminals displaying tick fluctuations – five-digit (1.46296).Read more: EUR/CHF: exchange rate, online quotes, signals and forecast for todayFactors influencing EUR/AUD and what the exchange rate depends onThe forecast of the Euro and the Australian dollar is the only country in the world - the continent – Australia, has an impressive territory and a variety of minerals. Over the past decades, the country's economy has been greatly transformed and has reached a fairly high level of development, nevertheless, the mining industry still occupies an impressive place, and the Australian dollar is considered a commodity currency.Sector statistics for the Australian economy are as follows:Approximately 70-71% of GDP comes from the services and trade sector;25-26% – gives developed industry;About 3% of GDP is accounted for by the agricultural sector.The eurozone is a confederation of 28 once completely independent countries that have united their financial systems into one, mutually opened borders for each other, and also transferred a significant share of their political sovereignty to a single center in Brussels. A large number of historical sites and architectural monuments continuously attract international tourists to Europe. For some places, the tourism industry provides a significant share of income, for the rest, the analysis by sector (averaged for the entire EU) provides such data:70.5% of GDP - services;27.3% - industry;The rest (about 2.1%) falls on agriculture.Read more: EUR/TRY: online quotes, signals and forecasts for todayToday, the correlation of the chart of this pair is most visible with: USD/THB - 87%, USD/RUB - 86.8%, USD/ZAR - 86.1%, EUR/JPY - 84.5%, EUR/ZAR - 82.2%, Natural gas - 80.2%, EUR/PLN- 77.8%., CHF/JPY– 75.3%, GBP/AUD- 74.7% USD/MXN – 70.5%.The inverse correlation with other instruments is not just there, but even exceeds the direct one. So, with AUD/CHF, it is -97.9%, with XAG/EUR – -93.4%, and with the XAU/EUR chart – -92.8%, silver - -92%, HK50 - -91.9%, gold - -90.9%, AUD against USD - -87.3%, NAS100 - -83% and AUD/SGD – -82.5%.Analyzing the data on correlation, the structure of the economies, as well as historical information from the charts, it is possible to clearly identify the main factors influencing the exchange rate of this currency pair:Prices for oil, gold, non-ferrous metals, agricultural products (primarily important for Australia);Economic indicators and trade balances (EU, Australia, USA);Interest rates, loans, inflation and monetary policy in general (for both countries);Labor market and business activity (for both countries and the USA);Global demand for US dollars and euros.Read more: EUR/ZAR: exchange rate, signals, forecast for today and chartFeatures of EUR/AUD currency pairDue to the interest rates of the participating countries (0% for the EU and 1.5% for Australia) and the location of currencies in the pair, carry trading is allowed only on short positions. However, at the moment, the swap size is small enough (+0.32 on short and -1.22 on long positions) to be able to earn effectively on it.Considerable volatility and sharp strong price movements, along with large risks, can also bring impressive returns (up to 300% of the deposit per month) to professionals who are able to analyze the market and comply with their trading strategies. In any case, EUR AUD is not a pair for the inexperienced, who are much more suited to more calm and predictable trading instruments, like USD/CHF or Euro/Dollar.Medium-term trading on 4-hour and daily timeframes for this pair is quite difficult even for professionals, it is best to trade on EUR/AUD on the most long-term charts (weekly and monthly) or to scalp, however, in the first case you will need a pretty decent deposit, and in the second – luck and nerves of ...
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