In order to be able to make money on the difference in exchange rates, you need to analyze a colossal array of information, anticipating market fluctuations in the market, or adjusting to them. Forex technical indicators act as traders’ assistants in this matter. They allow you to understand the processes taking place in the market, make a correct and effective forecast of the behavior of currencies over a certain period of time. Fx indicators are useful when working with other instruments. For example, in conducting transactions with stocks and other CFD contracts.
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Market indicators are a kind of basis for a trader’s decision to sell or buy a currency. According to the basics of technical analysis, it is known that the market can be represented in one of two states. This is either a trend or a flat. Based on this, indicators on Forex are conditionally divided into two types:
The first are trend indicators – these are those that indicate the presence of a direction, which is either downward or upward. The second are oscillators that have a high level of efficiency during the absence of a pronounced trend. On Forex, there are both objective and subjective indicators. The latter is an indication of the mood of the participants in the wound, which is of a psychological nature. These are bearish or bullish trends.