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For Question #1 Read: 3 Types of Forex Market Analysis There are three basic types of forex market analysis: 1. Technical Analysis 2. Fundamental Analysis 3. Sentiment Analysis
For Question #2 Read: Technical Analysis Technical analysis is the framework in which forex traders study price movement. The theory is that a person can look at historical price movements and determine the current trading conditions and potential price movement.
For Question #3 Read: Fundamental Analysis Fundamental analysis is a way of looking at the forex market by analyzing economic, social, and political forces that may affect the supply and demand of an asset.
For Question #4 Read: Fundamental Analysis The idea behind fundamental analysis is that if a country’s current or future economic outlook is good, their currency should strengthen. The better shape a country’s economy is, the more foreign businesses and investors will invest in that country. This results in the need to purchase that country’s currency to obtain those assets.
For Question #5 Read: Sentiment Analysis The term “bullish” is used to describe that a person’s, or group’s, outlook on an asset is optimistic (i.e., that the asset will rise in value).
For Question #6 Read: Sentiment Analysis The market basically represents what all traders – you, Pipcrawler, or Celine from the donut shop – feel about the market. Each trader’s thoughts and opinions, which are expressed through whatever position they take, helps form the overall sentiment of the market regardless of what information is out there.
For Question #7 Read: Technical Analysis Have you ever heard the old adage, “History tends to repeat itself“? Well, that’s basically what technical analysis is all about! If a price level held as a key support or resistance in the past, traders will keep an eye out for it and base their trades around that historical price level.