Forex Trading Daily Forecast EUR/USD

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EURO

eurEuro (banking code: EUR, currency sign: €, plural euro) is the currency of 16 EU countries, known as Eurozone. It is used as the official currency in the Vatican, Monaco and San Marino. These countries are licensed by the European Central Bank to issue its own coins, although they are not EU members. Kosovo, Andorra and Montenegro which are not part of EU accession and Eurozone also use euro as means of payment. Euro is administered by the Frankfurt-based European Central Bank (ECB) and the Eurosystem. It is a result of the most significant monetary reform in Europe. The introduction of the Euro as a currency of the European common market facilitates the trade in the European Union. It is considered as a key element of the project of European political integration.  Euro is one of the newest currencies in the world. It appears officially on January 1, 1999 and came into general use on 1 January 2002. Following the introduction of the Euro, its exchange rate against the dollar changed repeatedly. At the time of its introduction, 1 January 1999 one Euro is exchanged for 1, 18 USD, but the price began to fall. On 26 October2000, the Euro reached its lowest price and is exchanged for 0, 8252 USD. Here in and after that date the rate of the Euro began to rise, which is taken as a sign of recovery. In early 2001, the price reached 0, 96 USD. After some fluctuations the exchange rate of the Euro starts to uptrend against the dollar. On May 23, 2003 European currency crosses its value since its introduction. The continued rise in the price of the Euro began after the introduction of Euro notes and coins in the market.

Forex Trading Daily Forecast EUR/USD

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