In the forex market, the EUR/CNY symbol represents the currency pair which trades the Euro against the Chinese yuan - a pair that offers ample trading volume and volatility to generate profits when traded with care. The Euro is the second most popularly traded currency globally and enjoys the status of being a reserve currency, next only to the US dollar. Meanwhile, the Chinese yuan is working its way towards becoming a reserve currency, owing to China's leading position in international trade, which has attracted significant foreign investment into its markets.According to analysts at Morgan Stanley, the CNY accounts for around 2% of forex reserve assets globally currently. However, the Chinese government has been rallying to increase its currency's acceptance internationally, and its efforts could very well propel the yuan's share in foreign exchange reserves to anywhere between 5% and 10% by 2030, overtaking two of the other majors in the forex market - the GBP and the JPY.The EUR/CNY currency pair enjoys ample volatility when markets trade with a risk-on sentiment, as it increases the risk appetite of investors and drives them towards both these currencies and away from safer currencies like the Japanese yen and Swiss franc.