Archive for Forex Secret
The 2 Main Factors Affecting The Currency Pairs
Posted by: | CommentsThe Currency Pairs Trade
Turn on your real time or historical forex chart, do you see regular jig-jag patterns? Great, that means your charting software isn’t malfunctioning, in fact it’s working perfectly fine! Switch any currency pairs and you’ll see the same thing. As the price changes from period to period this is what happens: Support and Resistance. But what are they really?
One way to think of this kind of price movement is in terms of supply and demand. As we all know, as demand increases, price increases. For the purposes of our forex technical analysis, imagine that you are trading the EUR-USD currency pair. Assume that the price is $1.50US. Now consider the following scenario.
First Factor Affecting The Currency Pair – Support
The Three Basic Principles Of Applying Forex Technical Analysis
Posted by: | CommentsLearn Forex Technical Analysis
It may sound unlikely, but the the best way to make sense of the forex market is to learn forex technical analysis. Many traders have had problems with technical analysis and have come to believe that it’s just too complex to deal with.
But the fact is, using forex technical analysis actually simplifies the market. Why? Consider all of the variables that a trader has to take into account when looking at a currency pair.
Macroeconomics
From a macroeconomic perspective, a trader needs to be aware of all sorts of economic data relating to both sides of the currency pair. GDP, unemployment,and interest rates, are just some of the numbers that need to be taken into account before a trade is made. And it’s likely that forex traders will feel that these fundamental elements make trading complicated enough without adding the need to learn forex fundamental analysis as well. But they would be wrong.
