The euro was introduced to the world financial market as an accounting currency on January 1, 1999, replacing the former European Currency Unit (ECU) with a 1: 1 ratio (the US $ 1.1743). Physical banknotes and coins of the euro entered circulation on January 1, 2002, making it the currency in everyday use of its original member states. By May 2002, the euro had completely replaced the former currencies.
The euro reached its historical maximum of 1.6038 US dollars on July 18, 2008, and since then, it has not managed to threaten it once.
Since late 2009, the euro has sunk into the European debt crisis, leading to the creation of the European Financial Stability Facility as well as other reforms aimed at stabilizing the currency.
In July 2012, the euro fell below 1.21000, the US dollar, due to concerns about Greek debt and Spain's troubled banking sector for the first time in two years.
In 2014, the euro formed a new high at 1.40000; we had the first conflict between Russia and Ukraine that financially affected the euro's stability (new bearish pullback).
In January 2018, the euro again encountered resistance at 1.25500 and started a new pullback after the meeting in Davos and the beginning of the US-China trade war (new bearish pullback).
In February 2020, the world was hit by a coronavirus, and the euro fell to 1.06280 against the dollar.
In January 2021, the euro stopped at 1.23500 levels. In May of the same year the euro formed a lower low and moved away from the long-standing resistance line.
In February 2022, new problems for the euro, Russia attacked Ukraine. Western countries are imposing sanctions on Russia, and Russia is introducing countermeasures in the form of payments in rubles for oil and gas.
All this again affects the shaky euro, which is breaking below the support line. Bearish pressure is getting higher, and we are getting closer to the 1.00000 level.
The euro reached its historical maximum of 1.6038 US dollars on July 18, 2008, and since then, it has not managed to threaten it once.
Since late 2009, the euro has sunk into the European debt crisis, leading to the creation of the European Financial Stability Facility as well as other reforms aimed at stabilizing the currency.
In July 2012, the euro fell below 1.21000, the US dollar, due to concerns about Greek debt and Spain's troubled banking sector for the first time in two years.
In 2014, the euro formed a new high at 1.40000; we had the first conflict between Russia and Ukraine that financially affected the euro's stability (new bearish pullback).
In January 2018, the euro again encountered resistance at 1.25500 and started a new pullback after the meeting in Davos and the beginning of the US-China trade war (new bearish pullback).
In February 2020, the world was hit by a coronavirus, and the euro fell to 1.06280 against the dollar.
In January 2021, the euro stopped at 1.23500 levels. In May of the same year the euro formed a lower low and moved away from the long-standing resistance line.
In February 2022, new problems for the euro, Russia attacked Ukraine. Western countries are imposing sanctions on Russia, and Russia is introducing countermeasures in the form of payments in rubles for oil and gas.
All this again affects the shaky euro, which is breaking below the support line. Bearish pressure is getting higher, and we are getting closer to the 1.00000 level.
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