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Forex Education Forex Glossary
by ForexNewsNow Team on August 9, 2010

Forex key concepts: What are live forex charts?

NEW YORK (Forex News Now) – Live forex charts are charts on which FX traders can view the movements of major currency pairs in real-time.

There are manifold uses of live forex charts. Some live forex charts offer additional information on the currency pairs, such as daily high, daily low and percentage change. This data on live forex charts enables FX traders to gain a larger view of the situation, taking in upside and downside movements in the long-, medium- and short-term.

Of course, the key advantage of live forex charts is that they enable FX traders to view the currency pairs on which they have bet in real time, and to react accordingly.

Most live forex charts are free, and are provided as part of online forex trading platforms; as such, live forex charts differ greatly from charts in equities trading, which either need to be paid for, or have a 20-minute delay when they are free.

Over the last few years, live forex charts have proliferated as online forex has taken off as a major activity. Indeed, it is possible to speak of a global forex community that avails itself on a daily basis of live forex charts to execute all of its currency trading.

In short, live forex charts are an essential part of forex trading today.

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