There are two kinds of Forex traders- the traders who use fundamental analysis and the traders who use technical analysis. I prefer the technical analysis, which ignores fundamental factors. Technical analysis is applied to the price action of the market.  By using technical analysis traders can make short-term forecasts, which are very difficult with fundamental analysis, more suitable to making long-term forecasts.

Technical analysts use different technical studies and interpret them to predict market direction or to generate buy and sell signals.
By using charts in Forex technical analysis we can predict price movements. Read the rest of this entry »