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Technical analysis is a way to study and forecast price changes


Gee Dee

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Technical analysis is a way to study and forecast price changes in financial markets using historical price charts and market statistics. If investors or traders can identify previous market patterns, they can certainly predict future price action. It is one of the two major analysis and another fundamental analysis. The technical analysis is purely based on the price chart of the asset.   

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The main idea behind technical analysis is cyclicity and repetition. Look at the chart of any currency pair in Forex, and you will see that the fluctuations in quotes are repeated at regular intervals and after similar events.

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Technical analysis is great, but we shouldn't forget about fundamental analysis either. It's best to use both, they complement each other really well. While technical analysis can help you figure out entry and exit points, fundamenntal analysis is better for spotting general trends and their directions.

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