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Okane
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  • Re: Economic Calendar Announcements

    Hey!
    First explain to us what exactly it is you are doing?

    I like using ForexFactory.com
    A positive result does not mean a bullish reaction.
    Let me demonstrate with an example:

    NFP coming out at 15:00 that affects USD.
    The impact will be high according to ForexFactory
    and their forecast claims results above 240K means it will
    have a positive effect on USD.
    This means that EUR/USD will FALL not RISE. Why?
    Because in this pair, the base currency is EUR. What happens
    when you divide something small by something big? The number falls.
    Hence, positive news for USD means bearish movement on the EUR/USD.
    We saw this happen last Friday! Look at the charts and ForexFactory and you'll understand.
    But another pair where USD is the base pair should rise. You with me so far?

    As for expiries, I think trading fundamentals is difficult and there are various things to keep track of.
    For example, there could be other high impact news right after each other with opposite results, resulting
    the asset to keep consolidating in an area, jumping up and down. But the example in Friday was a great example
    where both major high impact news were good for the USD and you could expect the pair to stay bearish until the end of the day.
    I have a friend who is good at trading fundamentals, usually he places one hourly trade and one end of day.
    But he is experienced when it comes to fundamentals so you should practice more.

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