What is a Forex Chart?
A forex chart is a price chart showing the historical price and volume data on one or more currency pairs. A forex chart, thus, graphically depicts the historical behavior of a currency across various time frames, along with technical patterns & indicators, and overlays.
How To Analyse Forex Charts
HLOC chart (also called a bar chart)
The open price is represented by the notch to the left of the vertical line.
The close price is represented by the notch to the right of the vertical line.
The high price is the uppermost point of the vertical line.
The low price is the lowest point of the vertical line.
How do you Analyse forex charts for beginners?
The top and bottom of the candlestick body reflect the opening and closing prices in the given period. Typically, if the closing price is lower than the opening price, the candle body will be red or black. If the closing price is higher than the opening price, the body will be green or white.