| There are two kinds of Forex traders- the traders | | | | analysts and shareholder demands. Currency charts |
| who use fundamental analysis and the traders who | | | | have also the tendency to develop strong trends, |
| use technical analysis. I prefer the analysis, which | | | | and although the Forex market is volatile, it is more |
| ignores fundamental factors. Technical analysis is | | | | predictable than other markets. The good thing is |
| applied to the price action of the market. By using | | | | that you have only a few currencies to analyze, not |
| technical analysis traders can make short-term | | | | tens of thousands of stocks. |
| forecasts, which are very difficult with fundamental | | | | The complimentary charting software provided by |
| analysis, more suitable to making long-term forecasts. | | | | good brokers is sufficient for predicting currencies |
| Technical analysts use different technical studies and | | | | pair's movements, but you must learn to read the |
| interpret them to predict market direction or to | | | | charts and you must learn how to interpret your |
| generate buy and sell signals. By using charts in Forex | | | | technical studies. As I mentioned the analysis in the |
| technical analysis we can predict price movements. | | | | Forex market is easier than in the other markets, but |
| You might think that reading the charts is very | | | | it still might seem a difficult task for new traders. |
| difficult, but you must know that FOREX charts, as | | | | There are a lot of different resources which are |
| opposed to charts used for day trading stocks, are | | | | helpful in learning technical analysis. The easiest way is |
| easier to interpret and use. The Forex charts are | | | | watching videos which explain it, and although the |
| reflection of a country's economy, which is slower | | | | Forex video courses are usually expensive, you can |
| moving and is more stable compared to the future | | | | find some cheaper video courses, too. |
| and daily drama of company reports, Wall Street | | | | |