Currency Day Trading

Applying Technical Analysis

Currency day trading charts can be used on an intraday basis (5-minute, 15 minute, hourly), weekly, or monthly basis. The chart you study depends on how long you plan on holding a position. If you are currency day trading with a few hours in mind you may want to look at 5-minute or 15-minute charts. If you plan on holding a position for a couple of days, you may want to look at an hourly, 4-hour or daily chart. Weekly charts and monthly charts compress price movements to allow for much longer-range trend analysis. Therefore, these charts give the technical trader a longer-term context in which to conduct trades. These charts cater to currency day trading and longer term currency trading.

Test Your Currency Day Trading Skills

Look at the 5-minute, 15-minute, and one-hour charts and find support and resistance lines for the EUR/USD. You will notice that once a major support or resistance line is broken, markets tend to trend strongly in that direction. Please keep in mind that past performance is not indicative of future results and currency day trading carries significant risk of loss.

Open a Demo Account and Test your Currency Day Trading Skills for 30 days Click Here to Start

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