Activity of a trader can be successful only if his decisions regarding the opening of positions are considered and considered. The use of analytics to predict the movement of a currency pair is a fundamental factor for success.
Forex analytics means the flow of economic and financial information that enables you to reasonably forecast changes in the exchange rate. Such an important trader's help is found on many websites.
As a rule, the forex currency market analyst includes several sections, listed below.
Contents:
- Economic calendar
- Holiday calendar
- Daily fundamental analysis
- Articles and reviews
- Integrated analytics
Economic calendar
Here you can get information about when economic data is expected to be released. Specifies the exact time of publication of financial data, as well as the degree of significance of this news for Forex. For example, data on GDP, interest rate changes, and unemployment data in the United States are traditionally significant. These news can dramatically change the trend line. Therefore, the use of the economic calendar in its work will allow not to fall into the unexpected situation, when the market starts an intensive movement for reasons unclear for the trader.
Holiday Calendar
This section usually indicates important public holidays, banks of countries these days do not work. Such moments should also be taken into account when planning trade, as they affect the degree of market volatility and trading activity.
Daily fundamental analysis of
- many brokers entering the rating of Russian brokerage companies print on their pages. Information is provided by experienced traders. Here you can find out the results of the previous trading day and read the forecast for the current one. How much can you trust this information? Of course, you should not rely on them, but it will not be superfluous to take into account when opening transactions. After all, the experience of older colleagues can be very useful.
Articles and reviews
Here is and constantly updated with new articles information about the current economic and political situation in the world, its analysis is carried out and the impact on the prices of currencies is projected. You can also meet questions from users, to which the professionals give a detailed, exhaustive answer. Often without this information, forex trading is more like a game of roulette.
Integrated analytics
The use and combination of all analytical data helps to determine the point of entry into the market, to prompt the moment of withdrawal. Trade as a whole becomes weighted, literate and profitable.
