USD CHF daily chart refers to the USD CHF currency pair exchange rate chart which is displayed daily. This daily chart is calculated or arrived at the end of the day and it is the average of the exchange rates recorded throughout the day. This result is then recorded as the average exchange rate for the day. These are rates are published daily and are subject to change. The forex exchange rates come in currency pairs e.g. USD/CHF, CHF/USD, EUR/CHF and a host lot of others. Consider the USD CHF daily chart as a summary of all that has happened in the forex market concerning the exchange rate of USD/CHF in the day.
With the USD CHF daily chart, you can easily study the behavior of the currency pair and be able to predict the future outcome of the pair in the forex market. At the time of writing, the USD CHF live rate was 0.99CHF per USD.
FACTORS THAT CONTROL THE USD CHF DAILY CHART
1. THE EXCHANGE RATE
Since the USD CHF daily chart is a pictorial representation of the average exchange rate recorded during the day, 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.
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 USD CHF DAILY CHART
By studying the USD CHF daily chart, the trader will enjoy the following advantages;
1. GAIN ACCESS TO INFORMATION
The major aim behind the USD CHF daily chart is to serve as a source of information about the nature and behavior of the currency pair in the market. With the USD CHF 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 in the market.
2. ANTICIPATION OF THE MARKET OUTCOME
A careful study of the USD CHF daily 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.