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Thread: Basics of the Forex Market - Part 3

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    Moderator cool user Resolve's Avatar
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    Lightbulb Basics of the Forex Market - Part 3

    Basics of the Forex Market - Part 3

    Forex traders use two types of analysis for their trading:

    1. Fundamental analysis
    2. Technical analysis


    Here I would like to explain you about both the fundamental analysis and technical analysis and how it works in in our Forex trading.

    Fundamental analysis covers the economic aspects of the country whose currency pair we are trading with. For example the United States of America have currency of United States Dollar USD so any of the economic or major news events that are coming from the United States of America will directly impact the United States dollar and in turn every currency pair that is paired with the US dollar.

    Technical analysis in Forex trading relies on price action and the use of Technical indicators for determining the entry and exit in the currency pair we are trading with. There are many technical indicators as well as technical trading systems which are being used by traders around the world.

    We will be covering both the technical analysis as well as fundamental analysis in separate topics.
    Last edited by Resolve; 09-20-2020 at 08:21 PM.

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