EUR/USD: THE WORLD’S LEADING CURRENCY PAIR
The United States and the European Union are the two largest economic powers in the world.
The U.S. dollar is both heavily traded and widely held currency.
The European token, the Euro, is the world’s second most popular currency.
Out of all currencies on the planet, EUR/USD is probably the most famous and 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 forex by newcomers. It’s a good currency pair for beginners because it responds well to basic technical studies and rules, which new traders learn in their starting stage. 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 an eye on; Countries like Germany, France, Italy, and Spain are responsible for over 3/4 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 provide exciting opportunities in the forex market.