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A Technical Preview of the Major Currency Pairs for 2017

A Technical Preview, Major Currency, Pairs, 2017, Technical Analysis, fx trader, forex major currencies

When looking back at 2016, it’s fair to say that we’ve experienced some unexpected and profound political events that will long be remembered. From the election of Donald Trump to the aftermath of Brexit, the world in 2017 is certainly going to be a different place.

But while we’re all at the mercy of global events, traders should still attempt to approach their long-term trading strategies with a sense of clarity. In this article, I’ll attempt to do just that by explaining my current technical analysis of the major currency pairs and what I expect from them in 2017.

Why technical analysis?

Before we explore my analysis, I think it’s worth taking a step back and reminding ourselves of why a technical-based approach can be advantageous in a global climate of uncertainty.

Firstly, let’s take a look at why traders choose to use technical analysis in Forex. By using this methodology, traders are hoping to predict currency price movements that will happen in the future, just by looking at what has gone before. By studying graphs and charts over different time-frames, traders can identify historical patterns, which can then give clues as to how price might move in the future. While it’s not an exact science, technical analysis (when applied) properly can produce excellent results.

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