What is the best forex news site?
Top Forex News Sites to Follow Daily
- EARNFOREX. EARNFOREX can release up to seven articles a day, usually on specific currencies.
- Action Forex. Action Forex is an ideal forex news site to follow for news on major and minor pairs.
- Fx Empire.
How do you analyze forex news?
Applying Forex Market Analysis
- Understand the Drivers. The art of successful trading is partly due to an understanding of the current relationships between markets and the reasons that these relationships exist.
- Chart the Indexes.
- Look for a Consensus in Other Markets.
- Time the Trades.
What is the most important news in forex?
The most important Forex news
- #1: Unemployment Rate.
- #2: Gross Domestic Product (GDP) Growth Rate.
- #3: Consumer Price Index (CPI)
- #4: Overnight Interest Rate.
- #5: U.S. Nonfarm Payrolls (NFP) Data.
- #6: Organization of the Petroleum Exporting Countries (OPEC)
- #7: Retail Sales.
- #8: Purchasing Managers’ Index (PMI)
Is forex affected by news?
The Forex market is not an exception. Currency rates — the basic instruments of the foreign exchange market — are affected by the by major financial news, fundamental statistical reports and important geopolitical events. But nothing compares to seeing the actual effects of the news on the Forex market.
Where do forex traders get their news?
Forexnews. They are the leading source for the latest news on cryptocurrency along with technical analysis on the foreign currency, commodities, and trading strategies. They are also the go-to source for you to get breaking news stories and in-depth market updates from around the world.
How do I get forex news before release?
Your actions before the release: look at the range in which the pair is trading at the present moment, then in 5 minutes before the release place two pending orders (BUY STOP – 20 pips above the current price and SELL STOP – 20 pips below the current price).
How do you predict news direction in forex?
The most common way to trade forex on news is to look for a period of consolidation ahead of a big number and trade the breakout on the back of the number. A variety of exotic options are available for traders who want to capture a breakout move, but with less volatility than trading the currency pair itself.
Can forex be predicted?
If you are predicting you are in effect hoping or guessing which is not a way to make money in any venture let alone forex trading. You cannot predict the future and if you try, your predictions will be as accurate as your horoscope.
Who moves the forex market the most?
Central banks, which represent their nation’s government, are extremely important players in the forex market. Open market operations and interest rate policies of central banks influence currency rates to a very large extent. A central bank is responsible for fixing the price of its native currency on forex.
Who controls the forex market?
7.1 The Foreign Exchange Market It is decentralized in a sense that no one single authority, such as an international agency or government, controls it. The major players in the market are governments (usually through their central banks) and commercial banks.
What app do forex traders use?
MetaTrader MetaTrader (opens in new tab) is one of the most popular trading platform apps for retail investors using Android devices and allows for the trading of stocks, forex, futures, options, and other financial instruments from your mobile device.
How do you trade based on news?
How to Actually Trade News? The most common way to trade news is to look for a period of consolidation or uncertainty ahead of a big number and to trade the breakout on the back of the news. This can be done on both a short-term basis (intraday) or over several days.