Technical Analysis
Analysis based on market action through chart study, moving averages, volume, open interest, oscillators, formations, stochastic and other technical indicators.

Technical Correction
An adjustment to price not based on market sentiment but technical factors such as volume and charting.

Thin Market
A market in which trading volume is low and in which consequently bid and ask quotes are wide and the liquidity of the instrument traded is low.

Thin Trading
When the volumes of currency bought and sold are low.

Thursday / Friday Dollars
A US foreign exchange technicality. If a foreign bank buys dollars on Tuesday for Thursday delivery. If the bank leaves the funds overnight and transfers them on Friday by means of a clearing house cheque then clearance is not until Monday, the next working day. Higher interest rates for this period are thus available.

Tick
A minimum change in price, up or down.

Time Value
In options, the value of the premium is based on the amount of time left before the contract expires and the volatility of the underlying contract. Time value represents that portion of the premium in excess of intrinsic value. Time value diminishes as the expiration of the option draws near and/or if the underlying contract's price development becomes less volatile.

Today / Tomorrow
Simultaneous buying of a currency for delivery the following day and selling for the spot day, or vice versa. Also referred to as overnight.

Tomorrow Next (Tom Next)
Simultaneous buying of a currency for delivery the following day and selling for the spot day or vice versa.

Trade Date
The date on which a trade occurs.

Tradeable Amount
Smallest transaction size acceptable.

Transaction
The buying or selling of currencies resulting from the execution of an order.

Transaction Date
The date on which a trade occurs.

Two Tier Market
A dual exchange rate system where normally only one rate is open to market pressure, e.g. South Africa.

Two-Way Price
Rates for which both a bid and offer are quoted.