Forex Trading Analysis Combination

There are 2 types of forex trading analysis, namely technical analysis and fundamental analysis. Some traders rely more on forex trading tricks with technical analysis, others consider fundamental analysis more important. However, many also think that the two analyzes can be used simultaneously. Then, how to apply this fundamental and technical analysis?

Perform Fundamental Analysis to Find the Ideal Pair and Understand the Direction of Market Sentiment

Performing fundamental analysis to find the ideal pair and understanding the direction of market sentiment is important in forex trading. This can be exemplified when the market is still busy highlighting EUR/USD due to the dovish view of the ECB and positive economic data from the United States. According to the basic idea of ​​this forex trading trick, traders can assume that the outlook for the pair is bearish or in a downside position.

Looking for entry points by looking at signals from 200 EMA support, and candlesticks

For example, if the price tends to be bearish, traders can look for sell entry opportunities when the price is still moving below the 200 EMA line and bouncing down from resistance. Also pay attention to how the candlestick pattern is. If there is a price action reversal pattern, then it will be a good sell entry opportunity.

Setting the Exit Point According to the Risk/Reward Ratio

Still related to the example above, traders can use the resistance level as a benchmark for determining stop losses. In order to avoid the risk of volatility, don't forget to apply a forex trading trick for this exit: leave a few pips above the resistance.

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