The EUR/USD is the most popular currency pair on forex traders. Here you can learn How to Analyse the Euro vs US Dollar to Trade.
Follow these steps if you are a small trader to become a successful forex trader.
You have to pass these steps to place your trade using the EUR/USD currency pair.
How to Analysis Forex fundamentals for Euro and the US Dollars.
Go to the European central bank site and Federal Reserve USA main website and read the monetary policy of the Euro and US Dollar.
Go to the economic calendar and compare the economic events with according the monetary policy.
I was explained more about this topic in the Fundamental Analysis post.
How to do Trader Sentiment analysis for EUR/USD.
I have explained how to do sentiment analysis of forex. Try to Identify who trades in this current situation and who handles the market at this time.
Confirm the non-commercial traders of euro, increasing long positions also their commercial traders do decrease their long positions to buy the Euro.
US Dollar traders should trade for the opposite side if you need to buy the Euro/USD currency pair.
Analyze the Euro vs US Dollar using the Technical
Market price should be held at a Support level. But the time frame will change according to your strategy. Anyway, the concept will be the same for every trader. Confirm your trade using reversal candlesticks signal, chart pattern, or any of your trigger conditions. Read Technical Analysis post Related to this topic.
Risk reward to trade Euro to US Dollar.
The risk-reward will change according to the trading strategy. You should take at least a 1:1 risk-reward radio for your trade.
How to Analyze Forex Charts using Money management.
Many traders do suggest taking 1 percent of your capital to trade. but I taught you some tricks to manage your account balance to trade Forex.
Final Note for How to Analyse the Euro vs US Dollar.
Never can trade with 100% accuracy. A trader should be consistently profitable with his Trading strategy. Follow all these steps to Analyze the Euro to US Dollar to get a higher percentage of accuracy for your trade.