12. Getting Technical with Currencies
Similar to technical analysts in any other market, currency technicians attempt to predict price changes via the study of historical price and volume data. The concept of such analysis contradicts what is typically taught in college finance courses and the assumption that market prices are completely random. However, technical analysis can be a valuable tool to predict the timing of short-term market moves. In fact, I believe traders are best off using fundamental analysis (including seasonals and COT) to determine a bias, but entry and exit should be guided by technical factors. After all, markets are all-knowing and therefore “waiting” to hear or confirm the news for yourself will likely mean you are too ...
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