Forex Trend in Forex
I will try to teach you Forex Trend in my below Forex trend video, first as we know that Forex means FOR = Foreign EX= Exchange. Now I can say Foreign Exchange.
Trend either by Direction or by Duration. so how we will understand Forex Trend by Direction and as well as by Duration.
Before going to learn Forex trend direction we must know what actually we are exchanging in this Forex business.
Maybe you are saying that Currencies, commodities, CFD, and Indices. so what this Forex business exchanging yes!!! you are right Currencies, commodities, CFD, Indices and much more.
you can recognize Forex trend with different techniques like Forex Technical Analysis, Forex Fundamental Analysis and by Forex Sentimental Analysis.
In this video, we only discuss what is the trend by direction and duration. there are three types of currency trend according to their Direction and Duration.
The trend by Direction.
- Now we will go through the definition of Uptrend. It describes the price movement of financial Assets likes(Currencies, commodities, CFD, Indices. when overall direction is upward.
- A formal Uptrend is when the price makes higher highs, and higher lows once found earlier in the trend
- Now we will go through the definition of Downtrend. It describes the price movement of financial Assets likes(Currencies, commodities, CFD, Indices. when overall direction is downward.
- A formal downtrend is when the price makes Lower highs, and lower lows once found earlier in the trend.
- Now we define what is sideways trend it is also commonly known as a “horizontal trend”. Describes the horizontal price movement that occurs when the forces of supply and demand are nearly equal. A sideways trend is often regarded as a period of consolidation before the price continues in the direction of the previous move.
- The sideways trend is generally a result of the price traveling between strong levels of support and resistance. It is not uncommon to see a horizontal trend dominate the price action of a specific asset for a prolonged period before starting a move higher or lower.
- Brief consolidation is often needed during large price runs, as it is nearly impossible for such large price moves to sustain themselves over the longer term
Trend by Duration
- Major Trend (1 to 3 Years & Best viewed Daily Chart)
- Intermediate Trend ( 3 weeks to 3 months & Best viewed Hourly Chart)
- Minor Trend (within 1 week & Best viewed 15 minutes Chart).
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