The basics of Forex Fundamental Analysis 🌐
Less powefull economic indicators are:
How do traders use all this?There are few useful tips that can be followed:
1. Keep an economic calendar on hand. Watch for the events when data are due to be released.
2. Know what indicator is gaining the most of attention at any given time as it becomes a catalyst for future price moves. For example, when the U.S. dollar is weak traders will watch closely the inflation indicator.
3. When the difference between the expectations and real results occur, watch for corrections in the market price moves.
4. Pay attention to news revisions if any, the situation on the market can change quickly.
Another important thing to consider — your Forex Broker!
Because of the high volume of trades made at the time of important economic announcements some brokers may block or slow down the execution of new trading orders.
For traders it means they should enter the trade before the "major action" begins and, what is more important, they must always have their protective stops placed. Being not able to access the trade desk to close your losing position in time is the most frustrating thing traders should always try to avoid.
To your trading success!
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Forex trading is a high risk investment. All materials are published for educational purposes only.