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Technical analysis is an integral part of trading. It can be hard for novice traders to spot chart patterns and determine next tendencies in the market and act on them accordingly, yet it's a must learn, if you want to succeed in trading.

Dow only took in consideration closing prices. Averages had to close higher than a previous peak or lower than a previous trough to be significant. Intraday penetrations did not count.

Traders often use chart patterns when conducting technical analysis. The behavior of the Forex market shows patterns, and since chart patterns usually appear during trend reversals or when trends begin to form, traders often follow them when trading.

Technical indicators are inseparable part of technical analysis. They aim to predict future market movements and help a trader to be oriented in the market. There is a very large range of indicators which are used by the traders for forecasting the market. Some people prefer an indicator which is proved to work in the past; others try to experience new ones to reach success. Examples of such technical...

Applied to the currency market, fundamental analysis studies international economic, financial and political factors, their correlation and influence on the behavior of exchange rates. By this way, it sees what is absent in graphics. Technical and fundamental analysis is the market statistics. The main difference between fundamental analysis of Forex and technical analysis is that the fundamental analysis...

An exchange rate is the value of the currency of one country expressed in the currency of another country. An exchange rate or currency quotation is necessary to determine the proportions of currency volume in case of international trade in goods and services, cash flows, revaluation of accounts in foreign currency, etc. The cost basis of the currency is its purchasing power.