Technical Analysis and its Importance in Forex Trading

[forexk]

Forex technical analysis is a very useful method used by successful forex traders. This help forex traders in taking right forex trading judgment. Skilled forex traders use forex technical analysis along with forex fundamental analysis. Fundamental analysis provides information about changes in price of currencies on the basis of economic and political information like GDP, interest rate, supply and demands, foreign investments, trade balance and economic condition of the country. While forex technical analysis method is used to predict the changes in foreign currencies with the help of various charts, samples, and indicators. It mainly predicts the market direction and provides specific information about currencies. Forex charts show the current trading situation in forex market while forex technical indicators are used for serving various goals to determine the forex trends. But most beginners in forex trading don’t use forex technical analysis because of its use of mathematics and statistics

[josef]

I don't think that MOST beginners don't use technical analysis. The thing is that fundamental analysis is much more difficult and longer to learn. And if you trade without any rules and strategies - you will definitely lose

[adamsmith]

Yes, I totally agree with your view. Technical analysis is really one of the most important for trading. In this way you can make money through trading.

Best Regards,

Gurleen Singh

[Shawn Michal]

Yes, I am agreeing with your point “Technical analysis is importance in Forex trading” but for beginners it’s not necessary here Fundamental analysis play big roll to improve learning skill because trade without knowledge it’s risking your money.

[IreneIvory]

LandLord:
I don't think that MOST beginners don't use technical analysis. The thing is that fundamental analysis is much more difficult and longer to learn. And if you trade without any rules and strategies - you will definitely lose

To my mind, new traders lose their funds because they rely on their intuition. I would like to recommend for all traders to use the technical analysis because it is an important pivot in Forex trading and it measures where supply and demand meet.

[Paul75]

Thanks for sharing this information, for beginner’s fundamental analysis is very important. After experiences, technical analysis is very important because some benefit as trends are easily found, patterns are easily identified, and charts provide a wealth of information.