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To make profits trading currencies, you need to predict whether the market will go up or down. Technical analysis is one of the key ways of doing this, along with other techniques such as fundamental analysis.Technical analysis provides deep insights into market behavior. Technical indicators are calculated from recent market data, and are then plotted over time. These charts contain signals that show what the market is likely to do; traders use these signals to decide when to buy or sell.
Market PsychologyThe forex market is driven by fundamental factors, such as world events and economic performance, but human psychology plays an even larger role. People behave in certain ways, and technical analysis uncovers these trends. Here is an example:
- A currency has been stable for a long time
- There’s a small upwards movement
- Traders start to buy
- The price moves up further and volumes increase
- This attracts the attention on more investors
- The upwards trend accelerates
- People start to sell to lock in their profits and the trend slows
- More people see this as a signal to sell and the trend reverses
Using our market tips
Our forex analysts are highly experienced, and use the most up-to-date analysis techniques. We produce free daily technical analysis and tips. Follow our advice and you could increase your forex trading profits!
Remember that these tips are based on expert analysis, but the final decision is yours. We produce tips to help our clients, but they are guidelines, not rules you have to follow.