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Theodore Michelson

How to read Forex charts?


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Hi, thank you for your question! 

Reading Forex charts may seem complicated for beginners but it is important to grasp the basics, and through time it becomes an easy and automatic endeavor. It is important to pay attention to specific aspects of Forex charts which are:

Price and Time axis- The price axis is placed vertically, and it shows how much has the value of a specific stock changed over time. The time axis is placed horizontally and it shows a specific time span of any given stock, you can expand it or shrink it by simply zooming in or out. If the exchange rate has fallen from left to right, that means that sellers are in control and the market is in a downturn. If it has risen from left to right it means that buyers are in control and the market is in an uptrend.
Exchange rate pricing (PIPs)- PIPs are labeling the movement of currency pairs in percentage in points, it is basically a movement measure unit. It tells you how much a certain exchange pair gained or lost in value.

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