Forex, or foreign exchange, is a decentralized global market where currencies are bought and sold. It’s the largest and most liquid financial market in the world, with an average daily turnover of over $5 trillion.
EU, in this context, refers to the currency pair EUR/USD, which is the exchange rate between the euro and the US dollar. The euro is the currency used by the 19 member states of the European Union, while the US dollar is the currency of the United States.
High, low, and close are the three most important price points for a currency pair, and they represent the highest, lowest, and final prices of the trading day, respectively.
The high is the highest price that a currency pair reached during the trading day. This is an important indicator of the strength of the currency pair, as it shows the maximum level of demand for the currency.
The low is the lowest price that a currency pair reached during the trading day. This is also an important indicator of the strength of the currency pair, as it shows the minimum level of demand for the currency.
The close is the final price of the currency pair at the end of the trading day. This is an important indicator of the overall performance of the currency pair for the day, as it takes into account all of the buying and selling activity that occurred throughout the day.
Determining the high, low, and close prices for a currency pair on a specific day requires access to real-time market data, which is typically provided by forex brokers or financial news outlets. These prices are often used to create charts and graphs that illustrate the performance of a currency pair over time.
In general, the forex market is highly volatile and subject to a wide range of economic and geopolitical factors that can influence currency prices. Therefore, it’s important for traders to stay informed about the latest developments in the global economy and to use a variety of technical and fundamental analysis tools to make informed trading decisions.
