At CapproFX, we want you to succeed with your forex strategy. Our experts give you the most accurate and up-to-date market data, and back this up with expert analysis and forex tips. When you open a CapproFX account, you get the following valuable information:
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There are four main ways of forecasting the market and building your forex strategy:
Here, we're going to take a closer look at the first two of these: fundamental analysis and technical analysis.
The forex market is affected by real-world political and economic events, just like any market. Here are some simple examples:
Fundamental forex analysis is when you track these factors, analyse their impact and make currency rate predictions. You can then use the results as part of your forex strategy.
In practice, much more subtle forces can affect the value of a currency. To make things more complicated, events also interact with each other; the effect depends on the circumstances. Our financial specialists use their practical forex experience and financial acumen to predict the impact of these complicated trends on currency rates, and give you the results to use in your forex strategy!
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The forex market is not just driven by world events and major economic trends. The market is made up of people, and these people respond to the behaviour of the market itself. Market movement depends on human psychology; if you can predict what people will do, you can make money.
Here's a simple example:
Technical analysis uses detailed market data to predict these trends. Different technical indicators are calculated and plotted over time to give a view of market behaviour. These charts contain signals that indicate if the price is likely to go up or down, which you can use to decide when to buy or sell.
Become a CapproFX client, and use our technical analysis tools to maximise your chances of success:
For more information about technical analysis and indicators read on Technical indicator page.
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A forex strategy is a set of well-defined rules that tell you when to buy or sell currencies. This includes fundamental and technical analysis, but there's much more to forex strategy than that. You need to take into account your own temperament and your own strategy:
Developing a forex strategy can take a while when you're a beginner, and you won't become an experienced trader overnight. We understand this, and have created our Cent Account to help you develop your forex strategy. With a Cent Account, you can do the following:
Open a live forex account today and start developing your own forex strategy!