The international currency market is based on the principle of buying one currency and selling another. Daily market income of around 3 million US dollars. With the help of brokers and transaction centers one can trade almost all world currencies. In this article we review one of the popular currency pairs – EUR / USD.
The Euro-Dollar currency pair appeared on April 7, 1989. The primary ratio between EUR and USD was 1.0445. Statistics in 2007 showed that 27% of all transactions were carried out with Euro-Dollar pairs. Until now the EUR / USD pair has become the most traded and popular pair in the Forex international currency market. The pair attracted the attention of professionals in currency speculation and beginners in trading.
The pair is one of the most active currency pairs on the market, and is a famous pair with insignificant changes, which attracts traders with different experiences on the Forex market. The movement of the EUR / USD pair is smooth, but during the day high activity can be known and used with traders who use intraday trading and short-term trading to get high profits. Traders who actively work with Euro-Dollar currency pairs should be aware of economic events in the US and the European zone.
The pair follows the trend trading. By entering the market, traders should estimate the latest prices, predict trends and find historical levels of short trading prospects. Each currency pair in the market has its own characteristics and is influenced by different factors. Traders should be aware of their characteristics and trade by really paying attention to these characteristics.