echnical Analysis for Forex Trading!
Technical analysis mainly judges the movement of the currency pair by closely studying its past movement. It can either be done manually by trading experts and financial advisors or it can be automated to. In automated technical analysis software is trained to look for particular signals in the price movement of the currency pair and then do the analysis accordingly. This analysis is then represented in the form of graphs, charts, pie diagrams and comparison tables. Technical analysis gives a fair idea about behavior of the stock in the past and can play a critical role in deciding its movement in future. The data obtained from technical analysis of the currency pair is readily available on internet, business news channels and many broking houses also provide the material to their clients.
There are many views about what is the best technique for Forex analysis. Some people believe that fundamental analysis can judge the mood of the market better than technical analysis. While some other believe that past behavior of a currency pair can give fair idea about its future movements. Some complain about lack of human emotions in automated analysis while some others find it better than the manual analysis. What I personally believe is that any one analysis technique cannot work wonders for you every time. You should use combination of the two and look for a common direction both are pointing at.
Technical analysis mainly judges the movement of the currency pair by closely studying its past movement. It can either be done manually by trading experts and financial advisors or it can be automated to. In automated technical analysis software is trained to look for particular signals in the price movement of the currency pair and then do the analysis accordingly. This analysis is then represented in the form of graphs, charts, pie diagrams and comparison tables. Technical analysis gives a fair idea about behavior of the stock in the past and can play a critical role in deciding its movement in future. The data obtained from technical analysis of the currency pair is readily available on internet, business news channels and many broking houses also provide the material to their clients.
There are many views about what is the best technique for Forex analysis. Some people believe that fundamental analysis can judge the mood of the market better than technical analysis. While some other believe that past behavior of a currency pair can give fair idea about its future movements. Some complain about lack of human emotions in automated analysis while some others find it better than the manual analysis. What I personally believe is that any one analysis technique cannot work wonders for you every time. You should use combination of the two and look for a common direction both are pointing at.
