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country currency pairs eurnzd

Euro vs New Zealand Dollar

Euro vs New Zealand Dollar (EURNZD)

The EURNZD currency pair represents the exchange rate between the Euro EUR and the New Zealand Dollar NZD. It is considered a minor or exotic currency pair, as it involves two relatively smaller and less commonly traded currencies.

-.-- -.--%
Annual change
-.--%
All time High / Low
1.38809 / 1.99272
Buy

--.--

Sell

--.--

-.-
Daily price range:
Low
1.78316
High
1.79116

EURNZD Contract Specifications

  • Minimum Spreads, points: 0
  • Contract Size per Lot: 100000
  • Swap type: Points
  • Swap Long: -15.21
  • Swap Short: 1.68
  • 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 EURNZD

The EURNZD currency pair was introduced in 1999 when the Euro was adopted as the common currency in several European countries. Prior to that, the New Zealand Dollar was often traded against other major currencies such as the US Dollar and the British Pound. The creation of the EURNZD pair provided traders and investors with a new cross-rate to analyze and trade. Over the years, the exchange rate between the Euro and the New Zealand Dollar has fluctuated, influenced by economic factors like interest rates, inflation, and economic indicators. Traders and investors closely follow the historical performance of the EURNZD pair to identify patterns and trends that can inform their trading strategies.

currency pair eurnzd

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Frequently Asked Questions

EURNZD is a currency pair symbol used in the foreign exchange (forex) market. It represents the exchange rate between the euro EUR and the New Zealand dollar NZD. Specifically, it tells you how many New Zealand dollars are needed to purchase one euro. This currency pair is actively traded by investors, traders, and businesses looking to engage in international trade or financial transactions involving these two currencies. Fluctuations in the EURNZD exchange rate are influenced by various economic factors, including interest rates, economic data, and geopolitical events in both the Eurozone and New Zealand, making it an important instrument for those involved in the global currency markets.

To trade the EURNZD pair, you should first open an account with a reputable forex broker that offers this currency pair. Analyze the EURNZD chart to identify potential market opportunities based on key support and resistance levels, market trends, and important news or events that could impact the pair’s exchange rate. Develop a trading plan based on your risk tolerance, preferred entry and exit strategies, and position sizing. Use a suitable trading platform provided by your broker to execute your trades. Keep track of market conditions and stay updated on any significant news developments that may affect the EURNZD pair. Finally, close your position at your predetermined target profit or stop-loss level. Remember to manage your risk effectively and consider using technical and fundamental analysis to aid your trading decisions.

The trading hours for EURNZD can be found here

When it comes to trading strategies for the EURNZD pair, there are several approaches that traders commonly use. One popular strategy is trend following, where traders analyze the long-term trend of the pair using technical indicators such as moving averages or trendlines. They aim to enter trades in the direction of the prevailing trend. Another strategy is range trading, where traders identify key support and resistance levels and look for opportunities to buy near support and sell near resistance. Additionally, some traders employ a combination of technical and fundamental analysis to make trading decisions.

When trading the EURNZD pair, there are several factors to consider. First, it’s important to analyze the economic indicators and monetary policies of both the Eurozone and New Zealand, as they can influence the exchange rate. Pay attention to interest rate differentials and central bank announcements, as they can impact the relative strength of each currency. Additionally, keep an eye on global economic trends and market sentiment, as risk-on or risk-off environments can affect the pair. Consider using technical analysis to identify support and resistance levels, trends, and key chart patterns. Lastly, keep updated on any geopolitical events or news that may impact the currency pair’s volatility. By considering these factors, you can make more informed trading decisions on the EURNZD pair.