A person who wants to make a profession in Forex trading market must learn to read Forex charts. It is important because once when a person acquires such skills it is easier to learn and perform actual Forex trading. Let us have a glance on the basic concept of Forex trading.
As it can be seen from the name, it is trading of foreign currencies. When a currency pair is considered, it is considered as it is given. For example, if the given currency pair is EURUSD, then it is always EURUSD and not vice a versa. Here the base currency shall always be EUR and USD as terms currency. Thus if the Forex chart for EURUSD shows the fluctuation of price for around 1.2155, then it should be interpreted that I Euro is able to buy 1.2155 USD.

The trade size i.e. face value is the amount of base currency that a person is trading. In the given example, if the Forex trader wants to buy 100000 EURUSD then that person is buying 100000 EUROs only and not anything else.

When a Forex trader buys a currency pair, it is obvious that he would wish to get profits out of that. He shall expect the chart for that currency pair to go up to earn profits. Ultimately the trader shall expect that the base currency should be strong as compared to the terms currency. On the contrary if the Forex trader wants to sell his currencies, he shall surely expect the Forex chart of that currency to go down. Here he shall wish that the base currency should become weak against the terms currency.

One should check the time frame which is displayed. Many trading systems which are used for the trading use multiple time frames which determine the entry of the trade. For example, if a Forex system uses 4 hours and 30 minutes chart to see the overall trend of given currency pair. Few indicators are used like momentum, MACD, support and resistance and resistance lines. Later he may use a 5 minute chart to determine the actual entry into the trade. Thus one should see that the chart selected for the given currency pair has the correct time frame for accurate analysis.
Most of the Forex charts have the BID price instead of ASK price which is displayed on the chart. A price is generally quoted with both BID and ASK price. When a Forex trader wants to buy then he buys at ASK. It is higher of the two prices in the spread. When he wants to sell, he sells at BID which is the lower one.

One should thoroughly read and use the Forex charts into the trading to make it more profitable and easier.