Importance of the USD/EUR Currency Pair in the Cryptocurrency Market

The forex industry is the largest trading space in the entire trading industry, and it has become quite interesting in the recent months.

As forex trades are linked with fiat currencies, therefore, they never lose their traction even when the global economy is down.

The investors always have the opportunity of making profits and generating incomes as they continue trading in forex. 

While the commodities, cryptocurrencies, and stock trades are facing a decline, the forex industry is still growing significantly. 

Forex’s Overall Performance

The forex industry has continued expanding even in the running year when the global economy is facing a demise.

Despite the economic downtrends, the daily trading volume recorded for the forex trades are over $6 trillion. This is a huge figure when compared to the rest of the trading industries.

As every trade involves fiat currencies, it means that the forex trades are the largest no matter how big any other industry grows. 

For those with less knowledge about forex, the term refers to foreign exchange, which represents the market worth of fiat currencies. 

It is through a forex exchange that the traders and people of interest continue tracking the fiat currencies, and their market performances.

If you choose any pair in the forex industry to trade, it comes in the form of a pair such as USD/EUR, JPY/GBP, and many more.

The forex industry has hundreds of pairs and you can choose the one that you like.

The Most Popular Trading Pair

Although the forex trading sector and the forex brokers have abundance of trading pairs, the most popular trading pair is USD/EUR. 

The particular pair is known for generating 50% of the overall trading volume for the forex market on a daily basis. As both currencies are the largest in the entire world, making them extremely suitable for the traders. 

For years, the pair has been the top choice among the traders and even now, the pair is the most attractive. The recent developments in the economies of both the US and the European regions have brought many changes to their currencies.

Both currencies have grown very volatile against each other so making investments in the pair would prove to be quite favorable for the investors.