At the closing of markets on Friday, October 13, 2017, EUR/USD is the strongest pair in Forex (see Forex ranking). Anyway and according to our methodology, this pair is not fit to go long since its Mansfield Relative Strength is under 0 for a couple of weeks.
The code EUR / USD in forex corresponds to a determinate currency pair between the euro and the United States dollar.
When the quotation of a currency is needed, is always shown in relation with another currency, because in order to know the value of one of them you need to make a comparison and that is what we know as a currency pair.
And why does it show like that? Why is the euro on the left and not the US dollar? This is because the most dominant currency goes to the left. The euro is the first currency, or base currency; and the USD is the quoted currency, or counter currency.
Currently, the euro is the highest ranked currency in the hierarchy, so it will be always on the left.
So, when you see the Forex trading or the exchange rate for the EUR/USD, the rate will indicate how much US dollars you will need in order to purchase one euro.
This is an easy way to organize the trading, and also everybody can know the value of a determinate currency compared to another.
If somebody wants to make smart and accurate decisions in relation with their financial investment internationally; they must know the basics of the currency values and trading.