HOW TO READ THE FOREX ECONOMIC CALENDAR
How to read forex calendar
Use our economic calendar to locate major global events on the horizon that can move financial markets easily or shake significantly.
Our Forex Economic Calendar is fully customizable, helping you keep track of the exact data you are interested in. Select specific time zones and currencies of interest and apply filters to optimize results and fit your strategy.
Prefer items, shares or indices? Our economic calendar displays relevant events to help you trade these islands as well. You can also excel deeply in global financial events and events with our latest news and analysis articles.
A foreign exchange economic calendar is useful for traders to learn about upcoming news events that can shape their fundamental analysis. This piece will explore the DailyFX economic calendar in depth, offering suggestions on how to read a foreign exchange calendar to plan ahead, manage risk, and execute strategic trades.
What is an economic calendar?
An economic calendar is a resource that allows traders to learn about important economic information being released. Such incidents may include GDP, consumer price index and non-agricultural payroll reports. In an environment of fiscal crumbling and central bank intervention, it can be very helpful to know the date of the next central bank meeting or other news announcement.
Events on the calendar are graded low, medium, and high, depending on their potential degree of market impact. The economic calendar is fxaccurate as it looks.
HOW TO READ THE FOREX ECONOMIC CALENDAR
It is important to know how to read the Forex calendar properly before and after the most important release to maximize your trading. By checking the calendar every morning you will be able to familiarize yourself with the upcoming events.
In default mode, the calendar will show you each piece of economic news coming for major economies. For many people, this information will be overload, so you may want to customize the look
Looking at your forex calendar view
To customize the economic calendar, in the past, today and future, you can try clicking on ‘today’, ‘tomorrow’ and ‘next seven days’. It is advisable to change the timezone to be the most comfortable for you; This is done by clicking on Timezone. For most, it will be Eastern Standard Time or GMT-4 / GMT-5. Next, click on the ‘Currencies’ and ‘Importance’ buttons to see the events that are most relevant to you. .
For example, if you are trading EUR / USD and want to focus on today’s news emanating from the eurozone and the United States which is of high importance, then your filter would look like this:
Top Benefits of Using a Foreign Economic Calendar
Top effects of using the fxaccurate forex economic calendar include:
Must be able to manage risk effectively
Be in a position to plan ahead
Must have access to additional, useful features for customization
Being able to plan your trades based on economic calendar events means that you are preparing yourself for possible turbulence in value. When an event listed on the calendar occurs, a period of volatility can be expected when the data is well up, down or released in line with expectations.
To understand the principle of risk management in relation to these trades. Risk is the difference between its entry price and stop loss value, multiplied by the position size. Traders should aim to account for this percentage of complications less than 2%.
The foreign exchange economic calendar allows for further planning. For example, if a nonfarm payroll report is set to be released, merchants will find that this indicator has the potential to adequately move FX Airlines, so awareness of timing means they can Can make forex trading plan about.
Benefits of Fxaccurate Forex Economic Calendar Features
The Forex Economic Calendar provided by Fxaccurate provides additional benefits of special features such as the above mentioned customization options, the facility to select specific timeframes, set delivery and make it more relevant to your specific Saturday strategy. Applies the filter to create is.
Using news and events to trade Forex