Why historical exchange rates are very important to know before entering a new trade? A reader asked this question to InvestmentTotal.com daily trading tips. Is it really useful to find out the price history of a certain forex couple before entering a trade?
Our answer goes like this, and we will soon discuss this important question in our YouTube channel. Kindly read this article and leave a comment below.
EUR USD Exchange Rate History
One of the famous and common traded pairs is EURO and US Dollars, and here we will show you the Historical Exchange Rates for this fx pair.
Euro (EUR) to US Dollar (USD) Historical Exchange Rates on 1st April 2020 (01/04/2020)
- On April 01, 2020 the Official EUR to USD Exchange Rate:
- Close: 1 EUR = 1.0956 USD
- Best: 1 EUR = 1.1036 USD
- Worst: 1 EUR = 1.0903 USD
Today’s Live Euro to US Dollar Spot Rate:
Live: 1 EUR = 1.1094 USD
- 02/05/2020 vs 01/04/2020 CLOSE = +1.26%
- 02/05/2020 vs 01/04/2020 HIGH = +0.53%
- 02/05/2020 vs 01/04/2020 LOW = +1.75%
Reference: https://www.exchangerates.org.uk/EUR-USD-01_04_2020-exchange-rate-history.html
This will give you an idea if you have a long (BUY) position in EURUSD, you may gain few percent. But the following figures will show you instantly whether you make money or your favorite pair EURUSD will gave you profit or not, or let’s just say, go up or go down?
As you can see in the chart, it is easy to spot an opportunity whether to sell EUR USD or buy this FX pair, now can you tell me which is far better, the Historical Exchange Rates of EURUSD using just numbers or using trading chart? I think they are both important. Leave a comment!
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