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Forex Technical Analysis

FX Trader Magazine's technical analysis section of the forex market offers in-depth education articles about technical analysis tools, indicators and trading methods, as well as Forex technical analysis reports done by professional analysts with a great understanding of the market. This section provides charts, market reviews, forecasts and signals for major currency pairs and crosses.

Technical analysis attempts to forecast future price movements by examining past market data. Most traders use technical analysis to get a "big picture" on a currency price history on a specific time frame. The goal of technical analysts is to identify a current market signal by examining past market signals. They believe that price fluctuations are not random and that prices move in trend and future currency moves can be predicted.

In the world of currency trading, when someone says technical analysis, the first thing that comes to mind is a chart. For example EUR USD traders use charts because they are the easiest way to visualize the historical data of the euro dollar price.Forex charts are based on market action involving price and there are five major categories of Forex technical analysis studies and tools:

  • Indicators (oscillators, e.g.: Relative Strength Index (RSI)

  • Number theory (Fibonacci numbers, Gann numbers)

  • Waves (Elliott wave theory)

  • Gaps (high-low, open-closing)

  • Trends (following moving average).

It is important that forex traders understand the concepts behind technical analysis to be able to identify currency trends, define support and resistance levels, and analyse the price dynamics, to find a trading system which gives them an edge on the market and generates ongoing returns in the long-term.

  • Elliot Wave: putting the theory into practice

    In the last article, we introduced the main concepts behind Elliott Wave analysis and how the methodology is an excellent trading strategy for serious forex traders. But knowing the theory is one thing. Being able to apply it in trading conditions is something entirely different. In this article, I will explain how to start applying the theory in a real trading environment.
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  • An introduction to Elliot Wave analysis

    The currency markets have a reputation for being unpredictable, and as such, they can easily confuse retail novice traders, price pairs fluctuate up and down, have unexpected violent spikes, and market trends can reverse for what appears to be absolutely no reason. Traders often wonder how such movements occur and how they can identify the factors that drive them. More importantly, they wonder how they can make a consistent profit when trading in such conditions.
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  • Trade Using Moving Average Bounces

    They are versatile, objective and can be used in many different ways. To some traders, moving averages are used to help confirm trend direction, while to others, they are either used to trail their stops or simply to measure momentum in the market. But just how can we make money from them?
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  • Trading using the Marabuzo line

    Before we can see the relevance of the Line we have to look at what a Marabuzo actually is. The term is applied to the real body of a candlestick that is larger than the norm. That is a fairly nebulous concept and there is no hard and fast rule that can be applied here. An evaluation of the chart being studied and the time period being used will determine the relevant numbers.
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  • When Fundamental and Technical Analysis Align

    The purpose of this article is to highlight a specific trade in which the technical and fundamental analysis drew the same conclusions demonstrating how beneficial an understanding of both concepts can be. After reading this article your bias towards either approach will not have changed, but we may have opened your eyes to the potential of making decisions based on both.
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