All the experts and active traders agree on one thing which is about forecasting the movement of currency rates. They have proved that the best way to do this is by analyzing the patterns made in the past movements.
Currencies have the tendencies to develop strong trends. A technically sound trader can easily identify new trends which in turn can provide several new opportunities for different entry and exit positions.
How to perform a technical analysis?
There are several ways to carry out technical analysis; of which, the Technical analysis carried out using charts is one of the classical and most commonly used analysis techniques. Two of the widely used charts for analysis are the Bar and Candlestick charts.
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