We understand that learning forex skills for most beginners can get overwhelming, especially if you do not have a financial background in your studies. There is just so much to learn and multiple factors to consider while trading. To help you in starting your forex trading career smoothly, let us tell why beginners should trade EUR/USD currency pairs in the forex market?
As you already know countless currency pairs are traded in the forex market and not all of them have the same trading conditions as others. All currency pairs are divided into majors, minors/crosses, and exotics pairs, which shows what kind of trading opportunity they provide. Major pairs are the most widely traded pairs and most forex traders just stick with those to make their profits.
The pair of EUR/USD consists of European Euros and US Dollars. It indicates how much US dollars are needed to buy one Euro. There are many reasons why beginners should trade with this pair, some of them are listed below:
- It has the highest liquidity that means this pair is actively traded in the forex market making it easier for many to start trading with this pair.
- Due to high liquidity, it also provides the best trading opportunities with real market rates and little to no chance of slippage.
- This pair has the highest trading volume among all major pairs.
- Does not give fake-outs, so it is better for beginners as they can trade in a relaxed manner first and learn how everything works.
- The behavior of this pair is good for long-term traders as it moves slowly.
- Once this pair moves, it can continue in the same direction for a long time giving more profitable opportunities.
- You can learn about this pair very easily as there is so much material available on this written by professionals and experts about to deal with this pair.
If you are interested in trading with this pair, then you should know that keeping up with all important news, events, and happenings related to Europe and US is important to trade with EUR/USD. Furthermore, it is better if you study the historical data available on this pair along with understanding the relations of these regions on all levels so that you have a good insight into its market behavior.