Forex analysis is used by the retail forex day trader to determine whether to buy or sell a currency pair at any one time. Forex analysis could be technical in nature, using charting tools, or fundamental in nature, using economic indicators and/or news based events.
Technical analysis can be either manual or automated and is a system that uses past price movement to determine where a given currency may be headed. A manual system involves a trader analyzing technical indicators and interpreting whether to buy or sell. An automated trading analysis, involves the trader "teaching" the software what signals to look for and how to interpret them. Automated analysis takes out the human element of psychology that is detrimental to a lot of traders.
Both automated technical analysis and manual trading strategies are available through Aenaon. It is important to note, though, that there is no such thing as the "holy grail" of trading systems. If the system was a perfect money maker, then the seller would not want to share it. This is evidenced in how big financial firms keep their "black box" trading programs under lock and key.
There is no "best" method of analysis to be used by the forex trader. Depending on the trader's time frame, and access to information, either fundamental analysis or technical analysis could be thought of as the most viable option. For a short-term trader, with only delayed information to economic data, but real-time access to quotes, technical analysis may be the preferred method. Alternatively, for the long-term trader, or perhaps for the trader that has access to up-to-the-minute news reports and economic data, fundamental analysis could be preferred.
List of daily Technical Analysis
- USDJPY 17th October 2017
- USDCHF 17th October 2017
- USDCAD 17th October 2017
- EURUSD 17th October 2017
- USDCAD 11th October 2017
- USDJPY 11th October 2017
- EURUSD 11th October 2017
- USDCAD 25th September 2017
- USDJPY 25th September 2017
- EURUSD 25th September 2017
- EURUSD Short term analysis
- EURUSD 22nd Sept 2017 Long term analysis