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Technical analysis is one of the tools investors use to predict the change in the price of a particular currency. He focuses on reading graphics with the conviction that market movement follows a logic and has recurrent patterns.
Analysts typically track the appearance of specific figures on the currency pair image. Examples are Head and Shoulders or Double top. They also study the parameters of certain statistical indicators such as Moving averages, RSI, MACD and others. the chart below explains it all
Let’s look at the Double Bottom and Double Top Figures. You will easily be able to distinguish the Double Bottom of the Chart.
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