In principle, technical analysis uses historical prices to predict future movements. One of the main advantages of technical analysis is the factors that influence currency prices (including subjective factors such as expectations and feelings, rational and irrational, which serve elements to form consensus between buyers and sellers at certain times. Elements are quotations, which summarizes all expectations for the future and estimates that investors can see a particular currency, and finally determines prices.Technical analysis is widely used by most traders, and they replace it, because it does not require very high knowledge to do so, in contrast to very difficult fundamental analysis done, I myself don't know how a story can affect price movements in the forex market.