The second popular approach to Forex market analysis, based on market action through chart study, moving averages, volume, open interest, formations and other technical indicators. Similar to their equals in the equity markets, technical Forex analysts analyze price trends, the only key difference being the time frame: Forex markets are open 24/7. As a result, some forms of technical analysis that depend on time must be modified to work within the 24/7 Forex market timeframe. These are some of the most frequently used trend forecasting technical analysis forms Forex applications:
• Elliott Waves
• Fibonacci Studies
• Parabolic SAR
• Pivot Points
Many technical analysts combine technical studies for more accurate predictions. (The most common is the combination of the Fibonacci studies and the Elliott Waves.) Others analysts create trading systems to continually locate similar buying and selling conditions.

Posted by Anushka G at 6:01:00 PM