I personally like to focus on the medium and high-impact news events. This shows how many jobs were created or lost the previous months. This means setting the filter to include only the medium and high-impact news events.
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Thank You for Submitting a Reply,! Red items suggest that usually the news will affect the currency, lots of the data that comes out each day has little immediate effect on the market and Forex Factory use a colour scheme to highlight potentially big data items. The second larger circle teaches you what to expect from the data release, often it will give you an example suggesting how traders react to the financial numbers being released.
What happens in the currency markets is estimates are made by organisations that are responsible for the data, now when those estimates are miscalculated it has a tendency to affect the currency. I wont go much more into the benefits of Forex Factory, I just suggest you check it out!
Especially if you were previously unaware of how economic calendars are used by traders. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.
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