How to trade Forex by utilizing news
News? What is that? Can it be useful when we trade forex? Isn’t technical analysis enough? Sometimes questions like this arise in the mind of a beginner forex trader.
What is the fundamental analysis actually? Fundamental analysis is things that represent a country’s economy in general. The influence of these fundamentals is generally temporary, although sometimes it can affect macro trends in the future.
Then trade using news? Can it? Do not immediately believe in the strategy that trading using the news is easy and definitely profitable. Forex trading using news data is very important. So you need good resources to be able to provide accurate predictions on your forex trading.
Then where can we see the news released? You can easily get info about news from sources: www.fxstreet.com, www.bloomberg.com or the most commonly used is www.forexfactory.com.
How? The impact is really amazing right? There are traders who take advantage of price fluctuations when news is released. But there are also traders who keep away from this situation to reduce the risk of trading. Make sure you understand the impact of the news before using this strategy. It is recommended to trade 15-30 minutes after the news is released because the trend will be more clearly seen. If the trend is not clear, you better not trade. Happy Trading.