The Right Way of Forex Analysis for Beginners

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 together. Then, how to apply this fundamental and technical analysis?

Technical Analysis

Technical analysis is analysis that is usually used by traders to help buy and sell decisions in trading stocks, forex, gold or commodities. Technical analysis is a price analysis approach that studies market activity using historical price data, including price charts, that have occurred in the past, to predict and anticipate future price movements. In this case, of course, technical analysis must have data and price charts. Historical data used in technical analysis includes information on opening, closing, highs, lows, and trading volumes.

Fundamental Analysis

Forex fundamental analysis is basically a non-technical analysis method that refers to sources of information that have an indirect effect on currency price movements in the forex market such as the economic or socio-political conditions of a country. Unlike the method applied to technical analysis which takes information from price charts, forex fundamental analysis focuses on economic factors.

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