Live forex charts refers to a chart showing the current exchange rate of the a currency against another at the time of access. This NZD to USD live chart is usually gathered from the forex market and displayed for the viewing pleasure of the traders. The live chart shows the trader how the currency pair is faring in the exchange market at the time of access.
These are rates are published as they fluctuate in the market. The forex exchange rates come in currency pairs e.g. USD/NZD, NZD/USD, EUR/NZD and a host lot of others.
Consider for example, the NZD to USD live chart as a summary of all how the currency pair is faring in the international forex market in respect to the exchange rate of NZD/USD at the moment.
The values recorded in the live forex charts are usually not stable due to some factors which control the forex market and has a direct influence on the exchange rates of the currencies.
FACTORS THAT CONTROL THELIVE FOREX CHARTS
1. THE EXCHANGE RATE
The exchange rate of the currency is one of the major factors affecting it. The larger the exchange rate, the larger the value at the end of the day. It can also be referred to as the pictorial representation of the average exchange rate recorded at the moment.
2. COMMISSIONS AND LEVERAGES
Commissions are sometimes charged on trading in some currency pairs the currency and the leverages also goes a long way in determining the forex exchange rates.
3. DEMAND AND SUPPLY
The higher the demand for the currency pair, the higher the value and vice versa. Most of the times, the forex exchange rates are affected by the increase or decrease in the international trade in the country which will increase the need for exchanging currencies.
4. THE ECONOMY
The US economy is one of the major controllers of the forex exchange rates since it controls the exchange rate of the U.S dollars, the most traded currency in the world. An increase in the U.S economy will affect all other exchange rates and vice versa. Apart from the U.S economy, the economy of the other currency in the pair is also a determining factor of how well the currency will fare in the market.
ADVANTAGES OF STUDYING NZD TO USD LIVE CHART
By studying the live forex chart, the trader will enjoy the following advantages;
1. ACCESS TO INFORMATION
The major aim behind the live forex chart is to serve as a source of information on the nature and behavior of the currency pair in the market. With the live rate values, the trader can be able to gain an insight into the currency market and know how well or bad the currency is faring at the moment.
2. ANTICIPATION OF THE MARKET OUTCOME
A careful study of the live forex chart can assist the trader in reaching valid conclusions concerning the future of the currency pair.
3. IT IS USED IN PLANNING
Forex trade is for traders who are willing to take calculated risks in order to obtain results. With the daily forex exchange rate, 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. The rates will give the trader a signal on the best time to either enter or leave the market.
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.