The famous pair of
It is for sure you made at least one forex transaction, you exchanged one currency for another. Probably you traded EUR/USD, let’s accept it, this pair of currencies is a big hitter in the Forex market. EUR/USD is ranked as the most traded pair in the world, often calculated on a daily average turnover of more than $5 trillion.
The tremendous size of the two regions involved in this pair accounts for much of this. As it is understandable the United States and the eurozone have two of the largest economies, so no matter you are new traders with very few experiences or knowledge of global economics, you still can trade on how you think the economies will move.
The significant financial events in the eurozone have been one of the crucial drivers of interest in trading EUR/USD. During the very last years, the euro went through difficult financial situations, which drow interest from global investors. First, the Greek debt crisis, not only caused turmoil within Greece but also among currency traders. They rode a wave of volatility with each announced austerity measure, bailout, and other economic policies. As traders saw impending doom in all the news and announcements, they sold EUR/USD, believing that the value of the euro would drop further compared to the US dollar. Others thought that the Greek government was taking the right steps to improve its financial situation, and bought EUR/USD, believing the euro would rise again.
Second, Brexit offered a fascinating trade opportunity for EUR/ USD. As British citizens vote to leave the EU, traders took their opinion to the market, using the stability of the US dollar to speculate on the effect that a yes or no vote would have on the EUR/USD pair.
The US dollar was launched officially as the currency of the United States, in 1792, and it is one of the oldest currencies still in operation. Meanwhile, the euro was introduced in 1999 as the official currency of 19 eurozone countries. The US dollar is used more than any other currency, followed immediately and firmly by the euro.
EUR/USD Trading Chart
Attributes of trading this appealing currency pair
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