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Using Technical Analysis To Profit In Forex Trading
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[QUOTE="GazFx, post: 129780, member: 18628"] "1 - All market forces are taken into account in price movement. Many things can affect the price of a currency. Some of these factors would be economic conditions, political happenings, natural disasters, seasonal supply and demand and even the weather. Technical analysis, however, does not attempt to take these into account because the market has already done that. Rather, a technical analyst is concerned with the actual movements of the market, not with the reasons for the movement." And hence, technical analysis [B]cannot[/B] be used to predict or forecast future price movements. Don't get me wrong, I am an avid adherent of technical analysis, and it can be "suggestive" and "indicative" of future price behaviour, but without an understanding of the underlying fundamental factors at play "suggestions" and "indications" are not very meaningful. [/QUOTE]
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