Forex charts are used to study price changes during a chosen time period. For example, forex charts show minute, hourly, daily, weekly and monthly price movements. This helps traders predict future short term and long term price movements. The most common forex chart types are the line, bar, and candlestick charts. About Forex Charts Line Charts The most basic type of forex chart is the line chart. Line Charts show whether the market is in an uptrend, downtrend or in a range. However they also give minimal information. A line chart is formed by connecting one closing price to another.…
Author: Kent
Kent
Kent has been working in the FX industry since 2012, and has become a successful, experienced forex expert. He is a regular contributor to our website and provides exclusive insights into the financial markets.
To start, let’s look at three ways of analysing and developing trading ideas. There are three main types of market analysis. These are technical analysis, fundamental analysis, and sentiment analysis. Many traders choose to stick to one type of forex analysis is better, but the best traders usually know how to do all three types of analysis. Technical Analysis This type of market analysis involves studying price charts. The goal is to use difference charts to understand historical price data and recent price trends. You can then use this information to understand how prices may change in the future and…