Forex Charts Quiz

What are the three main types of forex charts?

• Line Chart

• Bar Chart

• Candlestick Chart

• All of the above

What type of chart is created by connecting the closing prices of a currency pair over a specific time period?

• Line Chart

• Bar Chart

• Candlestick Chart

Which chart type provides more information than a line chart and displays the open, high, low, and close prices of a currency pair?

• Line Chart

• Bar Chart

• Candlestick Chart

What is the most popular type of forex chart among traders?

• Line Chart

• Bar Chart

• Candlestick Chart

What do green or white candles indicate in a candlestick chart?

• Higher closing price

• Lower closing price

• No change in closing price

What do red or black candles signify in a candlestick chart?

• Higher closing price

• Lower closing price

• No change in closing price

What do timeframes refer to on a forex chart?

• The number of currency pairs being analyzed

• The duration represented by each data point

• The type of chart being used

Which timeframe is suitable for long-term investors?

• 5-minute (M5)

• Daily (D)

• 1-minute (M1)

What are support and resistance levels on a forex chart?

• Patterns in the price movements

• Areas where the price has previously struggled to move beyond

• Mathematical calculations based on price and volume data

What can technical indicators help traders do?

• Identify potential trading opportunities

• Confirm existing trends

• Both a and b