How to Trade EUR/USD on TradeLocker

In short: EUR/USD is the most traded currency pair in the world, which usually means deep liquidity and tight spreads. It is often most active when the London and New York sessions overlap. On TradeLocker you select EUR/USD from the watchlist, analyse it on TradingView charts and place orders from the order panel.

What is EUR/USD?

EUR/USD shows how many US dollars one euro buys. If EUR/USD is 1.1000, one euro costs 1.10 dollars. Buying the pair means you expect the euro to strengthen against the dollar; selling means you expect it to weaken.

What moves EUR/USD

• Interest rates: decisions and guidance from the European Central Bank and the US Federal Reserve.
• Inflation data: consumer price releases in the eurozone and the US.
• Jobs and growth: US employment reports, GDP and business surveys.
• Risk sentiment: the dollar often moves on global risk appetite.

Check an economic calendar before trading, because spreads can widen and prices can jump around major releases.

When to trade EUR/USD

The pair trades around the clock on weekdays, but activity is usually highest during the London session and especially when London and New York overlap. Read the best times to trade forex for session details.

Pips and position size

A pip on EUR/USD is 0.0001. For a standard lot (100,000 units) one pip is worth about $10, for a mini lot about $1 and for a micro lot about $0.10. Size your position from the amount you are willing to lose and the distance to your stop-loss. Our guide to risk management shows the calculation.

How to place a EUR/USD trade on TradeLocker

1. Search "EURUSD" in the watchlist and select it.
2. Analyse the chart; mark key levels and check the higher timeframe.
3. In the order panel choose market, limit or stop, and enter your size.
4. Set your stop-loss and take-profit.
5. Click buy or sell, then manage the trade from the positions panel.

New to the platform? Start with how to use TradeLocker.

Common EUR/USD mistakes

• Trading straight into major news without a plan.
• Using too much leverage because the pair "only moves a little".
• Skipping the stop-loss. See common forex mistakes.

Trade EUR/USD with ECN execution. Open a Clarity FX account and trade on TradeLocker, or practise first on a free demo.

Keep reading

• Forex spreads and trading costs
• TradingView indicators on TradeLocker
• Forex trading glossary

Trading forex and crypto on leverage carries a high risk of loss and may not be suitable for all investors. This article is educational and not financial advice. Read our risk disclosure.