EURUSD
The most popular Forex trading instrument is EUR USD; the number of transactions made between these
two currencies exceeds 60% of all Forex transactions.
And this is not surprising, because the pair is formed by the two most popular currencies - the American dollar and the euro; it is on these monetary units that you can find a lot of useful information, from news to analytics and exchange rate forecasts.
EURUSD is a rather interesting instrument with its own trading features, which we will discuss below.
Structure and general points.
In EURUSD, the euro is the base currency, and the dollar is the quoted currency, so its price rises along with the rise in the euro exchange rate and, on the contrary, falls when it decreases. If the US dollar strengthens, we see the opposite picture.
The pip size for a standard lot trade is $10, so calculating the commission is quite simple for any trade volume.
Trading.
Trading the EUR/USD pair isn't as simple as it might seem at first glance. While there are plenty of analytical forecasts available online, frequent news releases that change the exchange rate of the currency pair make these forecasts irrelevant.
The greatest activity is observed during the European and American trading sessions, with the surge occurring at the intersection of these two trading platforms.
Those who prefer a more relaxed trading style usually choose Asian trading session, thereby excluding the emergence of news about either the dollar or the euro.
The pair's price is most influenced by news from the US and the EU, but correlation with other trading instruments also plays a significant role. For example, when the price of gold rises, the EUR/USD pair also rises in most cases, with the correlation being particularly noticeable on short- and medium-term timeframes.
The advantages of trading EUR USD are obvious, in addition to a large amount of information, you also get a lot of technical analysis tools, such as advisors, indicators, scripts designed exclusively for working with the euro/dollar.
