Trend is the direction in which price moves. Identifying the trend of currency pair is the most important part of any forex trading strategy.Once you have a clear idea about where the price is heading taking a trade will be much more easier. That means if the price is going up then a buy trade will give you profit and vice-versa. So let's look at the different trends.
Price will move mainly in 3 directions.
- Up
- Down
- Range
When the price is moving up it is called an uptrend.
See the above chart. The price on 8th January was around 93.83, but as on 14th January it is around 97.99. Price has moved up. This is a typical example of up trend.
