How to Read Forex Charts
A Forex chart helps traders analyse market data. Live Forex charts offer valuable insight into real-time transactions. It gives traders hints on possible fluctuations in the trade environment.
From the chart display you can follow trade activity taking place during trading periods. This can span weeks, days, hours and even minutes. Watch the price changes to manage risk and measure prospects.
In the Forex market, you trade currency in pairs. Consider the period (along the Y-axis) and the exchange rate (along the X-axis).
When you pick a pair, the chart displays price movements over the specified time. You can study the fluctuations to predict future shifts in currency valuation. For instance, a EUR/GBP chart shows you the price history of both currencies.
You can measure the strength of a specific currency by considering several pairings. The available pairs depend on the Forex service you choose.