These are the analysis tools that every Forex trader needs to know how to use to be successful in their trading. Forex analysis tools will help you make more informed trading decisions, which will ultimately improve your performance as a trader.
Today’s market participants have a huge selection of trading tools at their disposal and there are four main categories:
Before deciding to buy or to sell a currency pair you need to assess the current market trend and momentum. There are several tools that can help assess the predominant trend, but the simplest measures the moving average which will give you the historical trend of a pair. The majority of trading platforms come with built-in technical indicators, and this is often one of them.