Decentralized Forex Trading with EUR/USD, introduction and analysis

Decentralized Forex Trading, without broker, the analysis of the moment. Discover the technical analysis of the moment for the EUR/USD.

Decentralized Forex Trading, what influences the price, what you should not ignore before starting to trade EUR/USD?

That’s what we’ll see a little later in this article, but let’s start with the basics.

Decentralized Forex Trading, basic information:

Here are the elements that can influence the price of this asset

1. The economic health of the Eurozone and the United States. Studying or having a good knowledge of the economic and financial data of these two zones is essential, including the data of their two respective central banks.

2. The geo-political situation, the most impactful current events that could be positive or negative for the economy and finances of these two zones.

3. The relationship between the two zones is also very important. Indeed, trade agreements or conflicts between these two zones can also influence the price of this currency pair.

4. The technical analysis, purely graphical, that offers the pair EUR / USD is also very important and this is what is proposed below

Decentralized Forex Trading with EUR/USD, what is happening now?

Technical analysis EUR/USD (daily)

The price is currently within a range between $1.066 and $1.095. We have been in this range for some time, and nothing clear is emerging.

For an upward movement, the $1.10 zone needs to be breached with volume and become a solid support.

On the downside, the $1.066 zone needs to be watched closely; if it breaks, we would clearly turn bearish again.

We are currently testing this support, which also represents the bottom of the range.

The next upward move could target $1.11 and then $1.13. On the downside, if the $1.06 support breaks, we could revisit $1.053.

Moving averages:

The 20-day moving average (green) is above the 50-day moving average (red), which is a positive sign for a potential future rise. However, we are still within a range, with no clear trend.

In summary:

The $1.066 support zone must hold if we want to avoid breaking out of the range to the downside, which would be a strong bearish signal. The price is testing the bottom of the range, which is not a good sign at the moment.

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How long has Forex trading been around?

The foreign exchange market (Forex) as we know it today has evolved over time, but its origins date back to antiquity. The earliest forms of currency trading can be traced back to the time when people began exchanging goods and services. However, modern Forex as we know it today took shape in the 20th century.

In the 1970s, when the Bretton Woods Agreement was abandoned, exchange rates began to float freely, and it was then that the foreign exchange market really took off. Technological advances also played a key role in the development of Forex trading as we know it today, with the introduction of online trading platforms and greater access to the world’s financial markets.

So, although the origins of currency trading go back a long way, modern Forex as a structured financial market accessible to individual traders took shape from the 1970s onwards and has developed considerably since then.

Recently, this evolution has seen the arrival of the first decentralized trading platforms. Today, it’s possible to trade decentralized with major and minor forex peers.

Which currency pairs are the most heavily traded?

On the foreign exchange (Forex) market, some currency pairs are more heavily traded and more liquid than others, due to their popularity and activity. Here are some of the most heavily traded currency pairs:

EUR/USD (Euro/U.S. Dollar): This is the most heavily traded pair on the Forex market, due to the high liquidity and economic importance of the euro and the U.S. dollar.

USD/JPY (US Dollar/Japanese Yen): This pair is also very popular due to Japan’s economic stability and the yen’s influence in international transactions.

GBP/USD (Pound Sterling/U.S. Dollar): This pair is often referred to as “Cable” and is widely traded due to the economic importance of the United Kingdom and the United States.

USD/CHF (US Dollar/Swiss Franc): Switzerland is known for its economic stability, making this pair attractive to traders.

AUD/USD (Australian Dollar/U.S. Dollar) and USD/CAD (U.S. Dollar/Canadian Dollar): These pairs involve the currencies of economies strongly linked to commodities, such as oil for the Canadian dollar and commodities for the Australian dollar.

These currency pairs are among the most popular and heavily traded due to their high liquidity, generally tighter spreads and volatility, which offers attractive trading opportunities for many investors.

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