Forex Dictionary Terms

Weekly Chart

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Definition – What does Weekly Chart mean?

A weekly chart is a chart that displays the price action of a currency pair in one week intervals. This means that each data point, whether a bar, candlestick or line, will contain one trading week’s price data (high, low, open and close). The weekly chart is most useful in identifying longer-term formations and trends.

ForexTerms explains Weekly Chart

Timeframes are very important in forex. Some traders work solely in one timeframe, only looking at the chart for that timeframe. Other traders watch multiple timeframes for conformation of trends, early signals and so on. A weekly chart filters out short term noise and clearly shows primary trends.

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