Please i need help on how to understand the economic calendar, if the Economic calendar is showing High impact of a country economic what does it mean for that currency, and how is it going to affect the movement of that currency pair. Same with Low and Medium impact.
Economic calendar show news release time. During that market will become volatile depend on impact. Spreads also become wider than usual. If you are news trader, you can trade that time. But if you are not, it is better to avoid trading that time.
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You can read about what are the important news events of specific currency by searching on Google. For example, for USD, NFP and FOMC are two of the most important events. During this time usually markets get volatile.
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With the economic calendars, you get to know about the news release time and based on that, you can make your trading decisions.
I take every possible step to stay updated with the latest trends and to find if the market is volatile or not.
economic calendar is really important even during news , i use most Fx factory economic , but honestly speaking its not all about permanent something.
There is no reason to think we can interpret news better than the big banks in forex. If they think some upcoming news will probably push a pair’s price higher they will be buying now. It would make sense to follow what they are doing. And then get out before the news.
nice post you have done , got so many fines lines with exact information, thanks for your nice reply. you always do a very good job tommor.
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