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HLOC chart (also called a bar chart) The open price is represented by the notch to the left of the vertical line. The close price is represented by the notch to the right of the vertical line. The high price is the uppermost point of the vertical line. The low price is the lowest point of the vertical line.

A forex chart graphically depicts the historical behavior, across varying time frames, of the relative price movement between currency pairs. Technical analysts and day traders will look at such charts in order to identify trends and various patterns that can signal reversals, continuations, entry points, and exits.

How to read an exchange rate. As mentioned, an exchange rate is expressed as a currency pair, for example, USD/GBP ? GBP is the abbreviation of British Pound Sterling. The first currency that's listed in the pair (USD) always represents one unit of that currency, meaning 1 USD.

To analyze forex charts pdf, you need to follow these steps: Identify the type of chart. ... Identify the time frame. ... Identify the trend. ... Identify support and resistance levels. ... Identify price patterns. ... Use technical indicators. ... Use fundamental analysis.

A variety of factors can influence these exchange rates, including the amounts of imports and exports, GDP, market expectations, and inflation. For example, if the GDP falls in one nation, that nation is likely to import less. If GDP grows, it will import more.

Axes: The ?y? axis on the foreign exchange market is the ?Exchange rate in Pesos,? ?Pesos per Dollar,? or my preference, ?Price of Dollars in Pesos.? The ?x? axis is the quantity of US Dollars. Just like every other market, where the two curves intersect you find the equilibrium price and equilibrium quantity.

In the graph, the exchange rate is shown on the Y axis, and the supply of foreign exchange is shown on the X axis. The supply curve SS shows the direct (positive) relation between the rate of exchange rate and the supply of foreign exchange.