A large number of well known financial websites provide economic calendars, updated with the latest economic figures as soon they are announced which always made available for traders.
However, there are some reasons that prompt a trader to use economic calendars; this blog is going to explore some of them and help traders know why they should use it.
First, they must understand that there are good and bad economic calendars; therefore, they must read reviews of economic calendar.
This is an essential part of your daily routine as a good Forex trader, and should always be the very first thing you do before deciding on trade set-ups and trading strategies for your trading day.
Thus, when you are aware of the timing of price sensitive news before it happens enables you to reduce your risk, you are quite well adept in doing trading well.
Nonetheless, as movements in the price of Forex pairs are often greatly influenced by announcements relating to the economies of the particular currencies, you must have a rough idea about it.
Also, be aware that the period immediately ahead of the announcement can often see a lack of direction as the announcement is awaited.
Therefore, you must be updating yourself when you put your money in currency pairs. Nonetheless, due to the importance of the US dollar, announcements specific to the US economy often have an impact across all currencies.
Economic Calendar to Have a Tab on the Events and Announcements
Therefore, when you are trading the US dollars, keep a tab on the important announcements through economic calendar.
The best Forex calendars color code the announcements, indicating how much impact each announcement is likely to have on the particular currencies. Thus, you must know what color means what while interpreting the economic calendar.
Also, as economic announcements most likely drive the markets are coded red, those likely to have a low impact are coded yellow, you must keep this in mind.
Nonetheless, good Forex calendars also show the figure which analysts expect to be announced, and provide a useful explanation of what the figure means and who publishes it.
Know more about Economic Calendar and Economic Events
Notwithstanding what keeping a careful watch on an economic calendar ensures that you as a Forex trader can immediately see which announcements are due in the coming hours and which currencies the announcements are likely to influence. Also, you know how much influence they are likely to have.
Block 12
forex trading website in United States forex trading website in Europe forex trading website in Vietnam forex trading website in Asia forex trading website in Africa forex trading website in South Africa forex trading website in Australia forex trading website in Malaysia forex trading website in Thailand forex trading website in India forex education websites in Asia forex education websites in Europe forex education websites in United States forex education websites in Thailand forex education websites in Malaysia forex education websites in India forex education websites in South Africa best forex learning websites best website to learn forex trading for free forex trading website list
Block 11
education forex website forex education forex trading education forex school online edukasi forex education trading forex trading webinar forex education websites forex education zone forex education courses forex education live forex education pdf forex education institute forex education for beginners forex education telegram group forex education malaysia forex education australia forex education reddit forex education seminars forex education in bangla
إرسال تعليق