While some traders rely on fundamental analysis and others on their technical skills, some are able to make a good living trading news events and economic releases alone. For the news trader, there is possibly no more important number than the Non-Farm Payrolls report which is released on the first Friday of each month. It is this number that paints the clearest picture of the current state of the US economy and although unemployment can sometime be a lagging indicator NFP is often a key consideration when central banks decide on their...
Forex trading evolved amazingly in the last years due to massive technological advances. Not only the forex market witnessed transformational changes, but also the way retail trading is being done. When opening a trading account with a forex broker, retail traders gain access to their account on multiple levels: desktop, smartphone, and tablets. Trading on the go has become popular once that smartphones and tablets were embraced so quickly. The changes were happening so fast that many brokers were taken by surprise and needed to adapt to the...
The value of a country’s currency is affected and largely influenced by various economic indicators that reflect how a country is performing. The macroeconomic events that take place internally and internationally are factors that will have a huge effect on the value of a currency. The fact that foreign exchange trading has become such a globalized activity means that macroeconomic events play an even greater role in forex than ever before. The forex market is primarily driven by overarching macroeconomic factors that influence...
Forex trading is becoming increasingly popular around the world. More and more people register at a forex brokers and try to trade currencies. But, it is more like testing their luck when they start trading because most new traders actually gamble and don’t trade seriously. They open positions due to emotions or feelings just like a Roulette player thinks that the next number will be 21. A forex trader without enough knowledge and experience just acts like that. To the uneducated person or the inexperienced forex trader, it would...
For forex traders, volatility in the forex market is not simply chaotic change. Even within seemingly meaningless swings in value, trends and patterns emerge as market participants try to make sense of the price action. Volatility is a measure of the degree of change in the value of a currency, currency pair or the forex market as a whole. Volatility is most commonly referenced when a currency has seen sharp changes in value compared to many of the other currencies in the market. There are two types of volatility; historical volatility...
