Kraken is modified
This Forex Trading blog post will test the Foreign Exchange Markets using Technical Analysis for Multiple Currency pairs, Support and Resistance and Chart Patterns as well as multiple time frame analysis. There will be a totally different approached used however and this post will really drill down to minor time frame analysis and beyond.
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Forex Market analysis relies on two types of analysis much like Stock Markets:
Technical Forex Market Analysis views the data on a chart and considers that the News and Data is built into the Price already (economic, political, social, sentimental and psychological). Various tools and indicators will be used by technical traders, for instance MACD, Bollinger Bands, Moving Averages and more.
Fundamental Forex Market Analysis also uses indicators, for instance reports, Gross Domestic Production (GDP), Retail sales, Consumer spending, Industrial Production, Consumer Price Index, Commodities, Economic Calendars, Balance of Trade levels which could identify Trends between other Nations and more.