What is Forex Technical analysis? Fibonacci techniques
What is Forex Technical analysis?
Indicators, past and current data like open, high, low, close are mainly used in technical analysis. Most of the Forex traders use moving average, parabolic SAR, Bollinger bands, moving average convergence/Divergence, all are the same indicators which are used to calculate the trend. This is called technical analysis. You can look at past data to help you spot trends which could help you find great forex trading opportunities like trend calculation. Some technical analysis is,
- Fibonacci techniques: Fibonacci is a famous Italian mathematics formula which is used to calculate support and resistance levels.
- Pivot Points calculation
- Indicators like moving average, Bollinger bands etc
