A History Of Euro/ Indian Rupee Pair
With the rise in the number of people using the Forex, the trading patterns in the market have also changed significantly. Many new currency pairs are rising to prominence with increased popularity. EUR/INR is one of the pairs which has been recently seeing trends in the market. The EUR/INR signifies the comparison of EUR and INR, which means that it tells us what is the amount of Indian Rupees required to equate 1 Euro. The historical data of the EUR/INR on excentral shows a high degree of volatility, and there are huge chances of incurring higher value of profits from the fluctuating market trend.
There are multiple advantages of trading this currency pair. Let us check them out:
- Volatility - It is one of the major reasons trading EUR/INR is profitable. History states that there is huge volatility involved in this pair, and you can incur huge profits if you can take a little risk. It is highly profitable for investors who have been in this field for a long and know how to analyse the ongoing trend.
- Availability of Data - There is a huge availability of EUR/INR trading data, and you can easily access those. Even if you are a new trader, you can access those and can understand the market prospects. You can understand the variation in 10 years and also see the changes in a week. Predicting the near future scope with this data is very easy.
- Automation- There is software that can automatically execute the orders, and these have become very affordable to the investors in today's scenario. They help to keep track of the current statistics and monitor them closely. They analyse the technical aspects automatically and help the traders to a great extent.
A few of the risks involved in trading EUR/INR are:
- If you are a beginner, you may have problems assessing and investing in this pair because they have very high volatility at certain points in time. If you do not understand the trends and are new to the whole setup, taking risks may bring you losses.
- The liquidity of the pair is less as the level of its trading is fluctuating in the market. EUR/INR is still upgrading standards and yet not so popular as some other currency pairs. There can be chances of high bid-ask spreads. This also results in having lower leverages because brokers prefer to offer more leverages to the established pairs rather than some exotic pairs.
The trading timing of the EUR/INR for getting the maximum profit should be well known to the people. The opening time of the National Stock Exchange is 9 am IST, corresponding to 3:30 am GST, and it extends to 5 pm IST, corresponding to 11:30 am GMT. This is the perfect timeframe for trading as the pair will be most liquid, and there will be lower bid-ask spreads during this time. There have been multiple affecting factors like the Central Bank policy, GBP growth rate, and the political stability contributing to the EUR to INR daily rates. This is one of the most reliable exotic pairs you are starting to invest in today!
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