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 size of a point when trading a volume of a standard lot is equal to 10 dollars, so calculating the commission is not difficult at any volume of transactions.
Trading.
Trading the EUR/USD pair is not as simple as it might seem at first glance; on the one hand, there are a lot of analytical forecasts on the network, on the other hand, frequent news releases changing the exchange rate of the currency pair make these forecasts irrelevant.
The greatest activity is observed during the European and American trading sessions; the surge occurs at the intersection of these two trading platforms.
Fans of quieter trading usually choose Asian trading session, thereby excluding the appearance of news, either for the dollar or for the euro.
The price of the pair is most influenced by news from the United States and the European Union, but correlation with other trading instruments also plays an important role. For example, when the price of gold rises, the EUR/USD pair also grows in most cases, the correlation is especially noticeable in the short and medium term.
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 euro/dollar.