FOREX Forex · Euro · Updated June 2026 · ~4 min · For TradingView desktop 3.2.1

EURUSD Basics: Spread, Pip Value and Lot Size

EURUSD (euro/US dollar) is the most-traded currency pair in the world and the first lesson in forex. Get pips, pip value and lots straight before you talk about entries and risk.

Quotes and pips

A EURUSD quote looks like 1.0842: the fourth decimal is one pip. 1.0842 → 1.0843 is a 1-pip move. Most platforms add a fifth decimal (a pipette / fractional pip); the 5 in 1.08425 is half a pip.

Pip value and lots

• Standard lot = 100,000 units of the base currency; at a standard lot, EURUSD is ≈ $10 per pip;
• Mini lot (0.1) ≈ $1 per pip; micro lot (0.01) ≈ $0.1 per pip;
• P&L: P&L = pips × pip value × lots.

Spread and slippage

The spread = the gap between bid and ask, your instant cost — EURUSD is the most liquid, so its spread is usually the tightest (often a fraction of a pip). Around major data releases the spread blows out instantly and you can get slippage; don't chase with a market order in a data window.