The pip value of 1 standard lot, or 100,000 units of EURUSD is $10.00000
The pip value of 1 mini lot, or 10,000 units of EURUSD is $1.00000
The pip value of 1 micro lot, or 1,000 units of EURUSD is $0.10000
The pip size of EURUSD is 0.0001, so with the current EURUSD price of 1.1074, the digits 4 represents 4.0 pips.
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