Free forex live quotes are open, unrestricted and unsold currency quotes that are displayed on the spot and on time. They are free because it cost no money in other to have it. These free live quotes provide its forex traders with currency quotes on charts that come in form of daily happenings and prompt quotes. It also provides information on currency updates and variations.
Free forex live quotes display results on the recent market places where a particular currency last traded. Becauseit generates information on real time forex happenings, it give a trader the advantage of trading the forex market without delay and with precision. These free forex live quotes with the use of forex charts have the ability to checkmate the latest prices of a currency and help make accurate trading decisions by taking advantage of the liquidity present in the forex market.
Forex quotes are charts that display the actual price of a currency at different points in time. Forex quotes actually let a trader to use short term and long term technical analysis on thousands of forex currency pairs. These quotes on a currencies shows the bid price, the ask price, the pips and spread of currency pairs.
EXAMPLE OF A FREE FOREX LIVE QUOTE TABLE
NAMES BID ASK CHANGE %CHANGE HIGH LOW TIME
EUR/USD 1.1206 1.12117 0.0096 0.87% 1.12117 1.10984 22:00:00
USD/CAD 1.35086 1.35187 -0.00954 -0.71% 1.36105 1.35046 20:55:46
GBP/USD 1.30282 1.3053 0.00743 0.56% 1.30398 1.29408 20:58:59
The above table is a forex chart that displays a complete live quote with parameters like the bid and ask which are two directional price quotation that denotes the best price at which a security can either be bought or sold at a given point in time, the currency value change, the percentage change, the high and low trading periods and the trade time.
HOW TO READ A FREE FOREX LIVE QUOTE
While reading a forex live quote, a trader must be careful not to make mistakes. A currency is quoted in relation to another currency. This means that the value of one currency is reflected to another currency. Consider the USD AUD as an example; when one is trying to determine the exchange rate between these two currencies, it might look like this:
USD/AUD=118.50. This quote means that 1 USD=118.50 AUD.
Also, care should be taken when reading the bid price which is the price at which the traders will buy the base currency, the ask price which is the price at which the trader will sell the base currency, the pip which is the smallest movement made by a price and the spread which is the difference between the bid and ask price. All these are being contained in a forex trading quote.
Not only that these set of forex live quote are gotten without pay, they are also extremely important in the lives of traders, and trading as a whole. They contain important information on currency that can but help a forex trader to achieve a total success in the buying and selling of currency pairs.
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.