Forex encyclopedia

Forex charts serve as framework of technical analysis, and besides allow monitoring behavior of trading contracts by eye. We will now discover the following notions, which are often used for reviewing price charts: • open price – the price of the first transaction within the reviewed time interval; • close price – the last price for the present time interval; • maximum – the largest price for a certain time interval; • minimum – the least price within time interval; The most popular time-frames are: W1 (week), D1 (day), H4 (4 hours), H1 (1 hour), M30 (half of hour), M15 (15 minutes), M5 (5 minutes). The simplest type of Forex chart is the linear – jogged line, which more often is built for close prices.

NewYork market accounts approximately 19% of the total trade. USD is the currency of the world, nearly 90% of trade will always involve dollars in it.