Forex Dictionary Terms

Daily Chart

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Definition – What does Daily Chart mean?

A daily chart is a chart that displays the price action of a currency pair in intervals of one day. For example, a daily candlestick chart will have one candlestick to represent each calendar day for the time period selected. A daily chart allows traders to focus on longer term trends and patterns by filtering out intraday noise.

ForexTerms explains Daily Chart

Daily charts are geared towards swing traders and longer term traders. Short term traders may also use daily charts to keep track of longer-term trends within currencies they are day trading. Daily charts sit in the middle of long-term and short-term trading, with weekly and monthly charts being clearly long-term and hourly, five-minute charts being shorter term.

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