EURAUD is the ticker symbol for Euro vs Australian Dollar. EURAUD is a Forex CFD. The EUR/AUD currency pairing is a representation of the amount of Australian dollars (AUD) that can be bought for every Euro (EUR).
The standard contract size for EURAUD is 100000 with max lots of 1000 tradeable in 0.01 lot increments.
The minimum trade size for EURAUD is 0.01
You analyze the EURAUD forex pair the same as any other market, by a combination of technical analysis, trend analysis, and any pertinent fundamental analysis or information that is available. You should think of the EUR as the "anti-AUD", as if the AUD is soft, it generally means that there is a strengthening EUR, and vice versa.
CFD trading is extremely risky. Trading any leveraged product carries significant risk as you have the ability to open positions that are far larger than your account balance.
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One Forex point is normally = to 10 unit of base currency. For instance, one Forex point of EURAUD is = to 10 EUR.
The EURAUD currency pair is one of the most traded in the world and offers a lot of potential for profits. However, it can also be a volatile pair which makes it risky for beginner traders. We will go over 3 EURAUD trading strategies that beginners can use to get started.
The first strategy is to trade with the trend. This means that you should buy when the currency pair is in an uptrend and sell when it is in a downtrend. You can identify the trend by looking at the moving averages. If the price is above the moving average, then it is in an uptrend. If the price is below the moving average, then it is in a downtrend.
The second strategy is to trade support and resistance levels. This means that you should buy when the price reaches a support level and sell when it reaches a resistance level. A support level is a level where the price has trouble falling below. A resistance level is a level where the price has trouble rising above. You can identify support and resistance levels by looking at past price action.
The third strategy is to trade news releases. This means that you should pay attention to economic news releases that have an impact on the EUR or AUD currencies. For example, if there is positive economic news from the European Union, then this could cause the EUR to rise against the AUD. On the other hand, if there is negative economic news from Australia, then this could cause the AUD to fall against the EUR. You can stay up-to-date on economic news by following financial news websites or subscribing to economic calendars.
These are just 3 of many possible EURAUD trading strategies that beginners can use to get started. remember that trading carries risk and you should never risk more than you can afford to lose. When choosing a strategy, make sure to test it out on a demo account first before using it with real money.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
The Afterprime liquidity mix for the forex market has been specially designed to cater for all forex trading styles. Enjoy trading on EURAUD with fast speeds and low costs.
Execution From < 1ms
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