Forex Technical Analysis



Technical analysis sees the market movements (like the movement of prices, volumes and open interests) using the information obtained from a chart, which shows the past behavior of the prices of certain currencies in order to forecast their future performance. It is one of the most significant tools available for the forecasting of financial markets.

The main strength of this type of analysis is the flexibility with regard to the underlying instrument, regarding the markets and regarding the time frame. A trader who deals several currencies but specializes in one may easily apply the same technical expertise to trading another currency. A trader who specializes in spot trading can make a smooth transition to dealing currency futures by using chart studies, because the same technical principles apply over and over again, regardless of the market. At the end, different players have different trading styles, objectives, and time frames.

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