Any advice on the very basic fundamental analyses that I could follow? I trade technically but would like know if there are some basic fundamentals that I could follow etc
Listen to what central bankers say. Deciphering it all isnt easy tho. See what analysts say about what central bankers are saying lol
I think you should keep an economic calendar at hand and understand all the press economic releases and how they can impact a currency pair. The more you know the better it will be.
1st thing you need to know about Central Bankers is they are experts at talking a lot and saying nothing. I’m a technical trader and I’ve found that it’s better to wait until after the announcements to see the actual effect the announcements had on the pair you’re trading, especially if you’re an intra day trader.
You absolutely should have an economic calendar and pay attention to what’s coming out but for me I’ve found it’s better to wait and see if there’s an effect, and what’s the effect.
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I think using an economic calendar is quite useful, and another thing that can help is Figures and statements given in speeches by important politicians and economists.
These are very important, since they have great impact on currency market moves.
But I think trading technically isn’t bad at all.Though it can prove challenging, especially with chart patterns.