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country currency pairs eurcad

Euro vs Canadian Dollar

Euro vs Canadian Dollar (EURCAD)

EURCAD is the currency pair that compares the euro to the Canadian dollar. It is widely traded in the forex market and represents the exchange rate between these two currencies.

-.-- -.--%
Annual change
-.--%
All time High / Low
1.28756 / 1.61514
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
1.47122
High
1.47327

EURCAD Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -8
  • Swap Short: -0.8
  • Margin Group: FX Majors
  • Margin Currency: EUR
  • Tick size: 0
  • Trading Platform: MetaTrader 4
  • Minimum Volume: 0.01
  • Maximum Volume: 0
  • Trading Schedule EET: 00:00 - 23:59 Mon - Fri
  • Hedged Margin: 1
  • Days Swap: FX Wednesday, metals-indices-oil friday

History of EURCAD

The EURCAD currency pair, which represents the exchange rate between the Euro EUR and the Canadian Dollar CAD, has a history closely tied to the economic developments of the Eurozone and Canada. It was introduced as a tradable currency pair in the foreign exchange market, commonly known as Forex, when the Euro was adopted as the official currency of 12 European Union countries on January 1, 1999. Canada, on the other hand, has a long-standing history of a stable and resource-driven economy. The EURCAD exchange rate has experienced fluctuations over the years due to various factors, including economic indicators, central bank policies, and global market sentiment. Traders and investors closely monitor this currency pair for opportunities in the ever-evolving global financial landscape.

currency pair eurcad

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Frequently Asked Questions

EURCAD is a currency pair that represents the exchange rate between the euro EUR and the Canadian dollar CAD. It shows how many Canadian dollars are needed to purchase one euro. Traders and investors use EURCAD to speculate on the price movement and profit from changes in the exchange rate between these two currencies. The pair is widely traded in the forex market and its value is influenced by various factors, including economic indicators, interest rates, and geopolitical events.

To trade the EURCAD pair, you need to open an account with a forex broker that offers this currency pair. You can then access the broker’s trading platform and place orders to buy or sell EURCAD based on your analysis and trading strategy. Forex brokers offer various tools and resources to help you trade EURCAD, such as charts, news feeds, technical analysis tools, and educational materials. You can also use leverage to increase your trading position, but it is important to manage your risk and use appropriate risk management strategies. Before trading EURCAD, it is recommended to have a good understanding of the market and the currency pair, as well as to have a solid trading plan in place.

The trading hours for EURCAD can be found here

There are several popular trading strategies for the EURCAD pair. One strategy is trend following, where traders analyze the long-term price trends and enter positions in the direction of the prevailing trend. Another strategy is range trading, where traders identify key support and resistance levels and enter positions when the price is within a specific range. Additionally, some traders use fundamental analysis to trade the EURCAD pair, by monitoring economic indicators, central bank policies, and geopolitical events that may impact the exchange rate. Technical analysis, such as using chart patterns and indicators, is another approach that traders employ when trading EURCAD. It is important for traders to have a solid understanding of these strategies and adapt them to their own trading style and risk tolerance.

When trading the EURCAD pair, traders should consider various factors that may impact the exchange rate. These factors can be broadly categorized as either fundamental or technical factors. Fundamental factors include economic indicators, such as GDP, employment numbers, and inflation rates, as well as central bank policies, political developments, and events that may affect global market sentiment. Technical factors, on the other hand, include chart patterns, trends, and momentum indicators that can be used to analyze the price action of the EURCAD pair. Traders should also consider market liquidity and volatility when trading EURCAD, as well as their own risk tolerance, trading objectives, and trading style. By keeping an eye on these factors and staying up to date on market news and events, traders can develop a better understanding of the EURCAD pair and make informed trading decisions.