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Technical analysis is the study of market action, using charts, for the purposes of forecasting future price trends. The primary cornerstone of technical analysis is based on the idea that the currency price is a comprehensive reflection of all market changes in the balance between supply and demand as caused by traders’ reactions to economic, political or psychological changes. The market price of any given currency takes into account the effect of all possible forces acting on that commodity, therefore those that adhere to technical analysis believe it is redundant to study fundamental analysis.
Chart Patterns Much of the body of technical analysis and the study of market action have to do with the study o...
Charts represent the price data fluctuations caused by varying market forces. The information found in these cha...
The trend is the fundamental cornerstone of technical analysis. The trend denotes the overall direction of the m...
In order to clearly see trends a technical analyst must draw trendlines and identify levels of support and resis...
The sideways price action of a reversal pattern signifies that upon breaking out of the pattern there will be a ...
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