Crude oil prices behave much as any other commodity with wide price swings in times of shortage or oversupply. The crude oil price cycle may extend over several years responding to changes in demand as well as OPEC and non-OPEC supply. Over the last 50 year Crude Oil has seen many lows and highs, conflict in the Middle Currency forex live rate crude oil and production strikes in Nigeria are some of the many reasons we have had for the price of Crude Oil to rise.
Traders and speculators can profit from these flucations in price through buying or selling Crude Oil CFD’s. Over the long term Crude Oil tends to follow strict lines of trend, if you can identify a trend correctly then you could profit from those moves by selling “short” or buying “long” oil prices. Oil demand is highly dependent on global macroeconomic conditions, so this is also an important determinant of price. Some economists claim that high oil prices have a large negative impact on the global growth. This means that the relationship between the oil price and global growth is not particularly stable although a high oil price is often thought of as being a late cycle phenomenon. There is a menu at the top of this EURUSD chart which allows you to change settings. You can try various timeframes, change the view to lines, bars or candlesticks and add trend lines or fibonacci rretracements using the drawing tools.
We also have different Forex Charts found here. The EURUSD is one of the most traded currency pairs around. The Euro being the official currency of most member states in the European Union, and the largest world currency US Dollars. This foreign exchange pair is followed by tourists between each area, business exporters and more importantly banks or trading institutions.
The EURUSD rate is affected heavily by economic data from each nation. The price quotes in our chart for GBPUSD are real time 24 hours a day, Monday to Friday. It’s an actual forex market rate, so it may differ slightly to a quote at your broker, due to spreads and various other factors. It’s a double edged sword, if brokers didn’t add spreads, they wouldn’t make their money, and we wouldn’t have access to the market, but we would get a better rate! Looking To Send Money In To Europe or United States? Fill out the instant quote form below for TorFX. Zero fees, bank beating rates, and all with a friendly FCA authorised company, for your protection.