Major pair

EUR/USD(Fiber)

EUR/USD is the most-traded currency pair in the world. The price represents how many US dollars one euro buys. A move from 1.0820 to 1.0830 is a 10-pip gain on a long.

0.0 to 0.6 pips

Typical spread

60 to 80 pips

Daily range

$10

Pip value / lot

London / NY overlap (8 to 11 AM ET)

Best session

What is EUR/USD?

EUR/USD pairs the Euro (the official currency of 20 countries in the Eurozone) against the United States Dollar. It reflects the relative economic strength, interest rates, and political stability of the two largest economic blocs in the world.

Roughly 25% of all forex transactions globally involve EUR/USD, making it the deepest, tightest-spread pair available to retail traders. ECN-style brokers typically offer 0.0 to 0.6 pip spreads during the London-NY overlap, the most liquid window of the day.

Base currency: EUR (Euro, Eurozone)
Quote currency: USD (US Dollar, United States)
Pip location: 4th decimal (0.0001)
Volume share: about 25% of daily global forex turnover (~$1.7 trillion notional per day)

When to trade EUR/USD

The London session (3 AM to 12 PM ET) drives the largest moves on EUR/USD because the Eurozone's home market is open. The London-NY overlap (8 AM to 11 AM ET) compounds that with US institutional flow and is when the highest-conviction setups appear.

Avoid the Asian session unless you are scalping ranges. Spreads widen, volume is thin, and meaningful structure rarely develops between 8 PM and 3 AM ET.

Best session: London / NY overlap (8 to 11 AM ET)
Avoid: Asian (8 PM to 3 AM ET, low liquidity)

News events that move EUR/USD

The Federal Reserve (FOMC) and European Central Bank (ECB) rate decisions are the highest-impact events on the EUR/USD calendar. A 25 bps surprise from either central bank can move the pair 80 to 150 pips in minutes.

Non-Farm Payrolls (NFP), released the first Friday of each month, routinely moves EUR/USD 30 to 60 pips in seconds. CPI prints from either side, GDP releases, and ECB press conferences (45 minutes after each rate decision) also matter.

Central banks: Federal Reserve (Fed), European Central Bank (ECB)
Key releases: FOMC rate decisions, NFP, ECB rate decisions, CPI (both economies), GDP

Want the full event calendar? See the economic calendar, and look up unfamiliar terms in the forex glossary.

EUR/USD FAQ

What is a pip on EUR/USD?

One pip on EUR/USD is 0.0001 (the 4th decimal). On a standard lot (100,000 EUR), one pip equals $10. On a mini lot (10,000) it is $1. On a micro lot (1,000) it is $0.10.

When is the best time to trade EUR/USD?

The London-New York session overlap, roughly 8 AM to 11 AM ET. Highest liquidity, tightest spreads, and the bulk of the day’s directional moves happen in this window.

What news moves EUR/USD the most?

FOMC rate decisions, ECB rate decisions, and Non-Farm Payrolls have the biggest single-event impact. CPI prints from either side and ECB press conferences (45 minutes after the rate decision) also routinely produce 30+ pip moves.

What is the typical spread on EUR/USD?

On most ECN brokers, the EUR/USD spread is 0.0 to 0.6 pips during the London-NY overlap. Spreads widen during news releases (multiple pips during NFP for a few seconds) and during the Asian session.

Why is EUR/USD called "Fiber"?

The nickname comes from the early days of forex trading when EUR/USD orders were placed over fiber-optic communication lines between European and US dealing desks. The name stuck.

Mentorship · Free for life

Want my daily institutional setups?

Verified trade ideas posted live every NY session. Entry, stop, target on every idea. Free for life when you sign up with a trusted broker.

See the mentorship

Mentorship is free for life when you sign up with a trusted broker through my referral link. Read the broker partnership disclosure