July 11, 2017, 8:10:30 AM EST
by Newsmovesmarketsforex Staff Writer
As a newbie forex trader, you don’t need to get bogged down by the sheer volume of trading news and information available online at any given time. However, the fact of the matter is that there’s way too much information to process and confuse a new forex trader.
The trouble is that when it comes to Forex Trading, information is king!
Forex market news is the secret sauce of successful trades. Currency price fluctuate because of a variety of information i.e. economic reports, central bank news, and interest rate changes, natural disasters, political moves etc.
News Impacts Fundamentals and These Move Currency Pairs
As a Forex Trader, your task is to trade successfully. This becomes a lot easier when you know exactly why the price of a currency is moving.
Real time forex trading news holds the key to this information. It can even help you successfully predict into the future of a currency pair.
Remember successful forex traders learned their way to success, they weren’t born that way. They don’t have mystical powers, but do have the powers of observation and decision, i.e. striking when the iron is hot!
They can’t see the future, but they do develop special senses to help them see through Forex news and data, picking the right moments to implement their decisions for maximum profitability.
Technical Analysis Is All About the Supply And Demand
But first we’ll have to understand Market Sentiment.
Simply put, Market Sentiment is defined as the tone of the market how the investors are feeling or thinking about the market. One of the key ways to identify market sentiment is through market sentiment indicators. This tool assists forex traders by accessing volatility and investors’ mood whereby leaning bullish or bearish based on market volume.
The sentiment governs the market price direction. Staying abreast of the Forex market news can give you a heads up on the underlining potential market trends that can be influenced by economic head winds within the unpredictable FX markets.
It will be also wise to remember that the Spot Market Forex does not have centralized exchanges to work with. FX Traders must be aware of “Open Interest analysis” i.e. using open interest data on currency futures to help them make the right decisions at the right time.
Let Us Help You Identify Turning Points Within The Market!
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