EUR USD rate chart refers to a form of pictorial representation of the exchange of the EUR USD currency pair. By exchange rate, we mean the amount of money in one currency that needs to be given up in order to obtain its equivalent value in another currency. The exchange rate can be represented or shown in graphs, tables and charts and it can be used to accurately monitor the behavior of the currency in the forex market. It can also be used to study the past, present and future rates of the currency pair in forex trade. The EUR USD rate chart can be used to calculate the commission; percentage high and low values and also gives at a glance, the market behavior of the currency pair i.e. AUD and EUR. At the time of writing this, the exchange rate of the EUR to USD was at 1.19USD per EUR. EUR USD is one of the most important currency pairs in the world since it is made up of two of the most greatest currency in the international market.
ADVANTAGES OF EUR USD EXCHANGE RATE CHART
By presenting the AUD EUR exchange rate in the form of a chart, the following advantages can be enjoyed.
1. PROVISION OF INFORMATION
All exchange rate data are presented to serve as a source of information to the trader and anyone interested in the forex market. This information accessed from the EUR USD rate chart can be used in the calculation of commission and percentages since the data are presented in a chart. At a glance, the trader can be able to arrive at a valid conclusion from the charts.
2. A VITAL TOOL FOR PLANNING
In forex trade, planning and taking calculated risks is very important. By nature, the market is not stable and hence the need to plan before making any move before or during trade. With the data presented on the EUR USD exchange rate chart, the trader can be able to sit and plan on the best way and time to invest into the market in order to obtain maximum profit.
3. PREDICTION OF MARKET BEHAVIOR
The EUR USD rate chart can be used for predicting the behavior of the currency pair in the forex market. This anticipation comes in handy when trying to calculate the risk involved in trading in a currency pair. The trader will most importantly want to make good profits from the investment.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.