The non-farm payroll (NFP) report is a key economic indicator for the United States. It is intended to represent the total number of paid workers in the U.S. minus farm employees, government employees, private household employees and employees of nonprofit organizations. The NFP report causes one of the consistently largest rate movements of any news announcement in the forex market. As a result, many analysts, traders, funds, investors and speculators anticipate the NFP number - and the directional movement it will cause. With so many...
One of the features that have developed out of recent technological advances into electronic trading and in conjunction with the rise of internet trading is the wide availability and use of forex trading signals. A simple definition of a forex trading signal is an actual forex trade that was placed and sent out as a message by a trader in close-to-real time. The goal for seeking out and using trading signals is pretty simple: to find profitable trades that will help you grow your account balance. In Forex trading you have to closely...
Trading based one the release of economic reports belongs to the fundamental side of trading forex where technical charts, price action and indicators are simply ignored. Before forex traders decide if they want to explicitly enter trades prior to an economic news release they need to first determine if they agree with technical analysis or with fundamental analysis. This is often the first step when traders build their trading strategy. There are positives and negative with each approach and forex traders should take both under consideration...
While currency prices are what the market is all about, interest rates have a direct effect on those prices. Therefore to be able to understand the current foreign exchange market you have to understand the current conditions of each individual interest rate. While economic and political conditions are also among the things that greatly affect the forex market there is nothing that affects it more than interest rates. When one country's interest rate rises their currency is seen as being stronger than other currencies. This happens...
The most obvious tool a forex trader needs to possess in order to successfully navigate through the world of forex is a proper trading strategy. Without one a forex trader merely takes a guess about the direction of a trade which is more a fifty-fifty gamble than a trade. While this may yield some positive results it is not advisable for forex traders to simply take a guess at the forex market as long-term this will lead to a complete loss of the trading account. Many new forex traders want to skip this step as it requires plenty of time...
