Euro/ USD currency pair is one of the strongest currency pairs in the world right now. That is because it includes two of the most prominent and well known currencies. A majority of the forex traders work on the this currency pair to make a living for themselves. There are certain reasons on why this pair is chosen by most of the traders.
In this article, we will briefly review the ins and outs of trading with the Euro/ USD currency pair.
The Most Traded Currency Pair
USD and Euro are in the first and second spot when it comes to the most traded currencies in the world. On a daily bases, USD gets the most number of trades and its trade volume is around 3x more as compared to the Euro. That is what makes USD a more prominent currency.
Leys make some conclusions.
- USD has the largest share in the global forex trading market. It has a huge market share.
- Due to the stability in both the currencies, Euro/ USD is the most traded currency pair. That is because Euro and USD are two of the highest values currencies in the world right now.
All of the other currency pairs and individual currencies have a mush less share as compared to these two currencies.
Why Traders Love Euro/ USD
Since these currencies are prominent and stable, the price movement is also stable for intra-day trades. Other currencies have more volatile pairs, that’s why they are not proffered by big traders.
Additionally, the currency pairs having low volatility are ot good for new traders, as price moves can take time, and you will need a deeper knowledge of the market to be profitable in those currencies. For regular users, they can easily search to convert 100 euros in us dollars to see the conversion rate.