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Candlestick patterns are used extensively in Forex trading. This article describes a few that are the most popular:

Expert consensus considers that candle patterns that have either a long upper or lower shadow with little body, are the most useful, e.g. hanging man, hammer, morning star and inverted hammer. You are also recommended to search for these patterns on the more reliable hourly and longer-period charts.

Accumulation/Distribution is a price and volume technical indicator that was developed by Larry Williams who has been accredited with the designs of a number of Forex Analytical tools. The A/D indicator is, in fact, a variant of the popular ‘On Balance Volume’ indicator.

The single currency Euro moved closer to a 9-month trough versus the U.S. Dollar in Asian trading today, as investor doubt grew as to whether or not European Union policymakers would help the heavily debt burdened nation of Greece.

Despite continuing investor concerns over the heavily debt burdened nation of Greece, the single currency Euro inched up in Asian trading today, hovering close to a 9-month trough versus the U.S. Dollar. Once again, a meeting of finance ministers from the Euro-zone failed to produce a definitive plan to help those countries within the Zone which are fiscally troubled, including not only Greece, but Spain and Portugal.

The single currency Euro rebounded in Asian trading today, despite continuing investor concerns over the Greek debt crisis. Some market players appear inclined to believe that the Euro’s broad decline has reached a turning point, and combined with the U.S. Dollar’s retreat, and whetted risk appetite, helped prop up the Euro against safe-haven currencies.

A recent report from The Wall Street Journal newspaper which suggested that the fiscal worries in Greece could spill over to other areas within the Euro-zone, precipitated the Euro’s fall in Asia today. Late last night, it was reported that some Italian municipalities took out derivative contracts, which if substantiated, could threaten public finances.

The Fed raising its discount rate by 25 basis points to .75% shocked the markets earlier today. The US dollar after weakening during early US trade, promptly rallied at the news. The Fed appears to be making good on its word about starting to remove the excess stimulus measures from the economy. The prospect of the US hiking rates before the EU and other major developed countries has made investors dollar bullish. This change in sentiment can be seen in the USD/JPY as the pair reached a new high of 92.10 upon the news.

In an oddly timed move, the U.S. Federal Reserve Bank directed that the U.S. discount rate, which is the rate at which the Federal Reserve lends to privately held U.S. banks, be raised to .75%, an increase of .25% effective Friday, the 19th of February.

In Asian trading today, the U.S. Dollar Index fell as investors continue to debate the U.S. Federal Reserve’s fiscal strategy, especially as regards the possibility that a key interest rate hike may occur sooner than expected.