Question

According to the graph and explain why we choose EUR/USD to trade and provide some strategy please...?? help me

IBRIS X 14134 100 2007 2008 2009 2000 2012 2013 2014 2015 2006 2017 2018 2019

Answer 1

The EUR USD currency pair tends to be one of the most popular pairs on Forex market.

Due to official statistics the USD ( United States Dollar) and the EUR (euro) currency  takes the first & the second place respectively when it comes to the volatility of the currency.
That is why it is pretty simple to understand why the mixture of two the most popular currencies creates the most important pair.

The USD has the biggest impact over the entire world’s economics. It is heavily used to implement the transactions that take place among all the countries of the world.

The central banks of most of the countries have their currency reserves in American dollars; some small countries completely refuse to have their own national currencies and take the US Dollar as the official currency.

The Euro is a special currency pair.
On this occasion the Euro weakens every time the controversy takes place. You should pay attention to this feature of Euro and track the news factor especially accurately and coherently.

If one asks a group of traders about which currency pair they prefer to trade, then a significant part of the polled will respond positively that the EUR USD exchange rate is the most important trading instrument for them. The brokers clearly understand that people love this volatile pair and that is why offer the lowest values for bid and ask spreads. This makes the EUR USD pair especially attractive for trading as well as the spreading possibilities of tracking the most comprehensive information.

If you are trading a scalping or a short-term strategy the fundamental analysis might be not that important. But for middle-term and especially long-term trades the understanding of why the EUR USD currency pair strengthens or weakens should be very significant knowledge.

One more thing that is pretty obvious but nevertheless should be taken into consideration is Non-Farm Payroll news. This news gets released on a monthly basis and has a great impact over the market in a short- and long-term as well. That is why the trades should be closed just before the release of the news.

The strategy can not be same for everybody and i advise not to follow the strategy of others, i recommend you to take the knowledge first and implement as per the data you get.