Forex signals are buy/sell suggestions based on the advice of a successful trader, charting tool, trading algorithm or news events. Combined with technical and fundamental analysis, forex signals give insight on potentially the best time and price to enter a trade in order to make a profit.
Understanding when to open or close a trade is key to successful forex trading and is a crucial part of learning how to trade currencies. Professional traders have years of experience analysing chart patterns and scrutinising current events and news announcements to help them assess when to open or close a forex position. Technical analysts will look for signals to guide them when entering and exiting trades.
Read our guide on forex trading explained for an introduction to the topic.