Forex exchange rate is the ratio of the price of one currency relative to another. A couple of decades ago, the rate of any currency could be learned only from financial news on television or radio, but at the present time, everything is much easier and more convenient when working on the currency market.

Moving back to predicting movements in the market, we acknowledge that a trader must have a thorough comprehension of the factors that can affect the movement of a currency's exchange rate if they want to be successful. Being capable of identifying trends is one of the core skills a forex trader should possess, as it can prove to be useful in making any forex market prediction. Experienced forex traders use market indicators to identify market trends and make trading decisions, among other functions.

The excess technical indicators, if forex trader overuses them, often does more harm than good. At best, it just creates a lot of unnecessary noise during trading. Each signal of a technical indicator is perceived as a signal to enter the market, but in practice it is not always so.

This Friday, the attention of traders will again be focused on the report on the number of people employed in non-agricultural sector of the US economy (Nonfarm payrolls).