|EUR/JPY||23/05/2013 01:12||EUR/JPY intraday: key ST resistance at 132.85.||132.562||132.85||0.2880|
|Gold||23/05/2013 01:09||GOLD (Spot) intraday: the downside prevails.||1368.52||1382||13.4800|
|GBP/JPY||22/05/2013 21:55||GBP/JPY intraday: caution.||154.796||155.8||1.0040|
|EUR/GBP||22/05/2013 21:54||EUR/GBP intraday: further advance.||0.8542||0.853||-0.0012|
|NZD/USD||22/05/2013 21:54||NZD/USD intraday: key resistance at 0.8115.||0.8071||0.8115||0.0044|
|AUD/USD||22/05/2013 21:52||AUD/USD intraday: under pressure.||0.9691||0.9755||0.0064|
|USD/CAD||22/05/2013 21:52||USD/CAD intraday: bullish bias above 1.0245.||1.0371||1.0245||-0.0126|
|USD/CHF||22/05/2013 21:51||USD/CHF intraday: the upside prevails.||0.9776||0.9675||-0.0101|
|EUR/USD||22/05/2013 21:51||EUR/USD intraday: under pressure.||1.2854||1.2935||0.0081|
|USD/JPY||22/05/2013 21:51||USD/JPY intraday: further advance.||102.81||102.6||-0.2100|
|GBP/USD||22/05/2013 21:51||GBP/USD intraday: the downside prevails.||1.5046||1.511||0.0064|
|Silver||22/05/2013 21:49||SILVER (Spot) intraday: further upside.||22.543||22.05||-0.4930|
|Crude Oil (NYMEX)||22/05/2013 21:49||Crude Oil (Jul 13) intraday: the downside prevails.||95.77||96.2||0.4300|
|EUR/CHF||22/05/2013 13:36||EUR/CHF intraday: towards 1.2665.||1.2602||1.2555||-0.0047|
The importance of technical analysis is world renowned and admitted by even the staunchest advocated of macro or fundamental analysis. The reason is simple: if enough people believe that a signal based on technical analysis is true and act upon it, at the bare minimum it's a self fulfilling prophecy. In a wider realization of the importance of technical analysis, you can learn that by using it, you can eliminate the biggest enemy to the forex trader: "the gut feeling". Macro and economic analysis involve heavy math, lots of tables and numbers and at the end of the day an educated guess in order to gauge market movements.
Technical Analysis tries to do away with the complexity by basing everything on price action, which already includes all the economic analysis within it. Without running into a book length discourse on technical analysis, start by reading some of the analyses provided in our technical analysis section found here in the FOREXYARD ANALZYZER. It does a good amount of the work for you in analyzing the market technically. By providing a clear explanation as well as a picture of the graph in question, you receive all the detail you need in order to continue on into your trade.
We suggest using our technical analysis tools and charts along with the live trading system to optimize your trading experience. We thoroughly suggest you to read as much as you can about the subject of technical analysis, specifically in the forex market in order to better equip you for the trading day. Expect real time analysis brought straight to the system all throughout the day.
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