The EUR/USD is the most traded currency pair. The Euro was introduced in January, 1999. After launching at $1.17, the euro fell to a low of just below 83 cents in the second half of 2000. Since those days the euro has gained strength and today it trades at $1.33.
Traders follow either technical analysis or fundamental analysis or maybe a combination of both when deciding what trades to place.
Some of the larger countries that are part of the Euro zone include Germany, France, Italy and Spain. You need to keep an eye on the events happening in these countries when looking at trades.
Some major US economic events that can influence the currency pair include the release of Non-Farm Payrolls data, FOMC rate decision and Retail Sales.
The most important point to consider when currency trading is your education. At my site http://www.yourforexessentials.com there is a link to an excellent resource that will help you get off to a good start.
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