EUR/USD: The World’s Number 1 Traded Currency Pair
The United States and the European Union are the two largest economic powers in the world.
The U.S. dollar is both the world’s most heavily traded and most widely held currency.
The currency of the European Zone, the Euro, is the world’s second most popular currency.
Out of all currencies in the planet, EUR/USD is probably the most famous and most actively
traded currency pair known by traders and non-traders alike, also offering the lowest spread.
A unique combination of liquidity and trading volumes make EUR/USD an excellent place to begin
trading for forex newcomers. It’s a good currency pair for beginners because the pair responds
well to basic technical studies and rules, which new traders learn in the beginning. Therefore,
trading this pair will help to build confidence through your learning curve and strategy building process.
From the fundamental point of view, the European and the US markets both receive a high degree
of global economic coverage. This makes EUR/USD easy to follow and to keep a watch on; countries
like Germany, France, Italy, and Spain are responsible for over 3/4th portion of the Eurozone’s GDP.
Therefore, the economic news and statistics related to these countries, along with the USA, impact
forex trading outcomes and allow for exciting opportunities in the forex market.
Contact us for more information on how to trade EUR/USD and other currency pairs.