In the Forex market there are several major currencies - one of those is the Euro. What is the Euro? It is a single currency of the European Economic and Monetary Union (EMU) introduced in January 1999. EMU members then were Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain.

The use of a single currency across many countries has both advantages and disadvantages in relation to the Forex. One of the biggest benefits of the euro is that the exchange rate is lowered, thus making investment across borders easier. There are risks in the changes in the value of the currency. This means that companies find it risky to import or export outside their currency zone and that profits could be lowered. Using a unified form of currency eliminates this worry. It creates a more risk free import and export area, which already relies heavily on intra-European exports.

The foreign exchange market is the largest and most liquid trading market in the world. Unlike the stock exchange, this market does not have a certain trading place or closing time. Instead, over $2 trillion are traded and sold every day (almost 6 days a week). It never closes and trading takes place twenty-four hours a day during the business week.

There are currently six major currency pairs that are used and traded each day on the Forex. These six pairs account for over 90 percent of the trading activity each and every day. These include the euro and the US dollar (EUR/USD), the Japanese yen and the US dollar (JPY/USD), the US dollar and the Swiss Franc (USD/CHF), the Australian dollar and the US dollar (AUD/USD), the British pound and the US dollar (GBP/USD) and the US dollar and the Canadian dollar (USD/CAD).