Is EUR/USD the best currency to trade in forex?
The EUR/USD is the most liquid, most traded currency. I’m not sure what you consider to be “best.” We tend to trade whatever is moving at the moment. There are six currency pairs that are deemed the “major currency pairs” in the FOREX market because they account for about 80 percent of FOREX transactions: 1. EUR/USD – Euro/U.S. Dollar 2. GBP/USD – Great British Pound/U.S. Dollar 3. USD/CHF –- U.S. Dollar/Swiss Franc 4. USD/JPY –- U.S. Dollar/Japanese Yen 5. USD/CAD –- U.S. Dollar/Canadian Dollar 6. AUD/USD – Australian Dollar/U.S. Dollar As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS. In the case of your question concerning the EUR/USD pair, it’s simpler to think in terms of being long first. If you are long the pair, you are long the base currency(EUR) an
