Forex Tools

The best technical charts available to foreign exchange traders are presented here courtesy of TradingView. EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, NZD/USD, EUR/GBP, EUR/JPY, GBP/JPY, and AUD/NZD are presented by default with a time frame of one day, enabling the trader to see the long-term trends and to get the broader picture of price action in the markets.

Here are the customizable charts:

The charts can be modified to show different currency pairs such as other minor pairs and crosses on the forex market. A wide array of cryptocurrencies are available, from Bitcoin, Ehtereum, Ripple, Bitcoin Cash, and Litecoin to the newest ICO on the block. Oil, gold, and other commodities can be found as well. For those venturing away from FX, there are plenty of stocks and indices to pick from. Also, bonds and their yields are available here. The US Dollar occasionally moves alongside the benchmark 10-year Treasury yields.

There are various charting tools available and also a fully-fledged social network that enables sharing, seeing, and commenting on trade ideas that the community provides. A sign-in is required. The graphs can be expanded to a full-screen view.

Technical indicators such as the Simple Moving Average, Fibonacci levels, Bolinger Bands, the Relative Strength Index, Momentum, MACD, Stochastics, and many more can be applied. Stop-loss, take profit, and entry points can all be incorporated into the technical analysis on these charts.

It is always important to remember not to over-complicate matters. Sometimes a simple graph with a clear directional arrow is more than enough. The Keep It Simple Stupid (KISS) principle applies to many aspects of life, including forex trading. A graph needs to be useful, not a piece of modern art.

For more on technical analysis, this article may be of interest: The basics of technical analysis in under 5 minutes.

Another tool is the technical analysis bias tool. Here is the current tendency for EUR/USD:

GBP/USD:

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