Technycal and Fundaments Analysis
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The currencies of countries can be traded 24 hours a day, five days a week. This type of trading is more commonly referred to as Forex trading. It has been estimated that the daily turnover of the foreign exchange market is roughly four trillion, in terms of USD. One of the reasons that the Forex trading is so unique is that there is so much liquidity in the market causing fast moves and excitement to traders all over the world. With such a deep and liquid market, it is pertinent that some sort of Forex Analysis is used to take advantages of moves and opportunities in the market. Using Forex Analysis will help you to increase the effectiveness of your Forex trading, regardless the trading techniques you use. There are two major types of analysis incorporated in Forex Trading, which we will describe in details below.
In order to truly use Forex Analysis to the fullest extent, a trader must incorporate both Technical and Fundamental analysis into their daily trades or long-term trades. Let’s begin by briefly describing both methods.
Technical Analysis is a process, used to evaluate financial securities and currencies, by analyzing statistics and more specifically with regards to Forex historic prices over specific time frames. Technical analysis is not used to find the true value of a currency, but instead uses charts and other indicators to help discover support and resistance levels, moving averages and to try and deduce overbought or oversold signals. In other words, technical analysis assists traders in trying to speculate on potential future moves that may occur. This is the major reason why “technicals”, as they are more commonly referred to are used in Forex Analysis.
Fundamental Analysis, on the other hand, is the analysis of real data that tends to find a securities real value. It can be used on all securities, but is equally important with regards to currencies, as it focuses on the analysis of economic factors. These factors include; interest rates, inflation, unemployment rates and the overall state of a country’s economy. Without these valuable sources of information, and what they mean to a currency, it would be difficult for any trader to produce any sort of successful Forex Analysis.
As mentioned above, to truly take advantage of currency moves and to make profitable trades, it is necessary for your Forex Analysis to include both fundamentals and technicals. For further information, please, do not hesitate to contact us at Infin markets customer support, where our highly trained staff would be more than happy to assist you with any questions you may have. Furthermore, if you wish to try your hand at these types of analysis, feel free to download our demo account, before taking on a real account. The NetTradeX demo platform, offered by Infin Markets, puts you right in the heat of the moment, by giving you access to all the necessary tools, required to conduct a thorough analysis, using technicals, along with up to the minute news to meet all your fundamental needs. What are you waiting for? Click on the demo link before and experience the action first hand.