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Forex new: How to trade with traders need to know

To trade forex successfully, traders need to grasp important news and events that affect the prices of currency pairs. This article, Learn Forex Trading will introduce you to what is Forex new. Types of forex new traders need to know how to read and analyze forex new.

Overview of new forex that traders need to know

Before starting to trade with new forex, traders need to understand the following basic information.

What is Forex new?

Forex New is information about economic, political, and social situations, natural disasters, wars, trade negotiations, monetary policy, interest rates, inflation, employment, production, consumption, confidence business, and consumer news… of countries and regions around the world. He affects the relative value of currencies. Forex new can be classified according to the level of impact, time of publication, and reliability of the news source.

See more: Choosing a forex trading online platform

Types of news forex traders need to know

There are many types of forex new. We can divide into three main groups according to the level of impact on the market:

High-impact news. These are news that cause large and sudden fluctuations in the market. Lasts from a few minutes – to several hours. For example: interest rate decisions of central banks. Or the US non-farm payrolls report (NFP). Or CPI index,…
Medium impact news. These are news that cause moderate and temporary fluctuations in the market. Usually lasts from a few minutes – to several dozen minutes. For example: reporting the number of US unemployment claims (Jobless Claims). Or report the number of US ADP jobs,…
Low-impact news. These are news that causes small and short-term fluctuations in the market. Usually lasts from a few seconds – a few minutes. For example: the US import and export prices index (Import and Export Prices). Or the US New Home Price Index (New Home Sales),…

Forex news channels traders can follow

There are many Forex new channels that traders can follow. However, traders can choose some reputable and quality channels as follows:

Forex Factory: is one of the famous Forex new websites. The page provides traders with information about the publication schedule of economic indicators and hot news. Technical and fundamental analysis articles, discussion forums, and exchange of experiences between traders.
DailyFX: is a Forex new website provided by foreign exchange trading company FXCM. The page provides traders with information about market news. Technical and fundamental analysis content.
FXStreet: is an independent Forex new website. Provide traders with information about market news. Technical and fundamental analysis content.

How to read and analyze Forex’s new

To read and analyze Forex new, traders can apply the following two schools of thought.

Basic analysis when trading forex

Fundamental analysis is a method of assessing the economic prosperity of a country, and the policies related to the state of its currency. The goal of fundamental analysis is to determine the intrinsic value of a currency. Then compare with the market price to look for buying and selling opportunities.

Factors used for fundamental analysis include interest rates, inflation, GDP, GNP, unemployment rate, trade balance, etc. Traders need to monitor these economic indicators through announcement schedules and official reports, as well as market reactions before and after the announcement.

Technical analysis based on Forex new

Technical analysis is a method of studying price movements of forex currency pairs based on historical data. This method uses tools such as charts, indicators, patterns, and candlesticks to identify trends, support, and resistance levels, entry and exit points, and trading signals.

Technical analysis can be combined with fundamental analysis to enhance trading efficiency. One way to do this is to use Forex new to confirm or refute technical signals, or to take advantage of trading opportunities when there is a gap between the expectations and reality of economic indicators. international.

Technical analysis when trading Forex news

There are many trading strategies with forex news. However, it can be divided into two main types of news as follows.

Analyze forex news before publication

Analyzing Forex new before its release is a way of trading based on forecasts of economic indicators. To predict the direction of the market and place orders before the news is announced. This transaction has the advantage of being able to avoid sudden fluctuations and market turmoil when news is announced. However, there is also a disadvantage that it can be misleading if the reality is far different from the forecast.

To apply this trading method, traders need to take the following steps:

Step 1: View the publication schedule of economic indicators on Forex new websites.
Step 2: See forecasts of economic indicators. Compare with the previous one to determine the trend of the news.
Step 3: Observe the chart of the relevant currency pair. Identify trends, support, resistance, candlestick patterns, and indicators.
Step 4: Monitor the reality of economic indicators when announced. Compare with the forecast and previous to determine the level of surprise of the news.
Analyze forex news before publication

Strategy for entering orders when Forex new is announced

The strategy of entering orders when Forex new is announced is a way of trading based on the reality of economic indicators, to take advantage of large and rapid market fluctuations when news is announced. This trading method has the advantage of being able to take advantage of large and quick profit opportunities, but it also has the disadvantage of being high-risk and difficult to control due to sudden fluctuations and market turbulence when news breaks. to be announced.

To apply this trading method, traders need to take the following steps:

Step 1: View the publication schedule of economic indicators on Forex new websites, and select news that has a high impact on the currency pair you are interested in.
Step 2: View forecasts of economic indicators, and compare them with previous ones to determine market expectations.
Step 3: Place an order in the direction of reality, for example, if reality is higher than forecast and before, place an order to buy that country’s currency.
Step 4: Set appropriate stop loss and take profit, based on support, resistance levels, and risk/reward goals.
Strategy for entering orders when forex news is announced

See more: Instructions for registering an XM account

Effective trading experience with Forex’s new

To trade effectively with Forex New, traders need to have the following experience:

Choose news that has a high or medium impact on the currency pair you are interested in, avoid news that has a low or irrelevant impact.
Choose currency pairs with large trading volume and strong fluctuations when there is news, and avoid currency pairs with little trading volume and weak fluctuations.
Choose trading strategies that suit your style and experience. Analyze news before it is announced or enter orders when the news is announced.

Always update and follow the latest news, and understand What is a forex trading. Evaluate their impact on the market, and adjust orders if necessary.
Experience trading with Forex news

summary

Thus, the article on Learn Forex Trading has introduced you to Forex new. This is information about the economic, political, and social situation of countries and regions around the world. These factors influence the relative value of currencies. Hopefully, this article will help you gain more knowledge and skills to trade forex professionally and effectively.

FAQs:

What is Forex new?

Forex is new in information about economic, political, and social situations, natural disasters, wars, trade negotiations, monetary policy, interest rates, inflation, employment, production, consumption, confidence business, and consumer news…

How to read and analyze Forex news?

Traders need to apply the following steps: view the announcement schedule of economic indicators on forex news websites, and track the actual value of economic indicators when announced.