Excerpt from: “Crystal Ball for Investing and Trading” Book.
Status of EUR/USD
Forex is the exchange platform for trading currencies. The EUR/USD index shows the evolution of euro against the US dollar. When the EUR/USD goes up, the euro appreciates against the USD, and when it goes down, the USD appreciates against the euro. When you open a long position on EUR/USD, you bet that the euro will appreciate. With a short position, you bet that the euro depreciates and the USD appreciates.
Figure 13.25 shows a monthly chart of EUR/USD from 1957 to March 20, 2020. On the left side, the euro relentlessly depreciated against the USD from 1980 to 1985, then started a rally until 1993, and again, depreciated until 2000.
The euro then rallied until 2008 to reach an exchange rate of $1.60 for €1, then plunged rapidly against the USD and other currencies in 2015 after the European Central Bank started its QE program.
Figure 13.25 Charts courtesy of netdania.com
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