How To Interpret Forex Charts

Interpreting a forex chart is vital to a forex trader’s business, as it gives you the vital picture of how currencies are doing at any point of time in the markets. By mastering the charts, you could see if a currency were getting stronger or weaker and then take a trade related decision. A forex chart is created for a currency pair like the EURUSD or USDJPY and for any other currency pair you get to see in your trading platform. In simple terms, it shows the prices of the currencies concerned in relation to one another over a period of time. For instance, the EURUSD chart would tell you how the US dollar and EUR moved against one another over the period of time for which the chart was plotted. Continue Reading