January 30, 2009, Newsletter Issue #91: Foreign Exchange Charts

Tip of the Week

Foreign exchange charts should include the chart period as a time interval, such as 30 minutes, 24 hours, five days. The foreign exchange charts should give the specific currency pair, such as GPB/USD.

The foreign exchange charts will exemplify strong or weak moves based on the value differentiations in the currency pairs. They will also show the relationship between the two monetary units of a currency pair. This is basically summed up as the price activity where the current value of the base currency pair is placed against the second currency pair. This allows an investor to see the changes in the value of the currency pair, and is often used to determine the bid/ask prices.

Many charts will also show moving averages as lines of different colors over a period of 10 or more days.

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