There are many ways to analyze the Forex market. Traders seem to be developing new strategies everyday and I’m sure it will only be a matter of time before psychics are a primary tool for new traders.
Seriously though, some of the methods of analysis have become rather outdated or just plain not useful. One of the sources of information that has consistently remained reliable though is market news.
Along with technical analysis, Forex market news has a real affect on the fluctuations of currencies. Expert trades and new traders alike analyze the market to see where a certain currency is likely to move against another. The most common types of news which are used are business, stock & political news but the truth is all headlines can have an affect on the market even if it is ever so slight. For more info please visit these sites:- creditkranti.com
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To answer the question of whether news is reliable or not I would have to say that, based on my experiences, it is reliable but inconsistent. Sure it’s easy to know how a certain piece of news may cause a currency pair to move but generally headlines are choppy.
Headline news may affect a certain pair one day then a totally different pair the next and then a third pair the rest of the week. It’s just inconsistent.
The key is to analyze the news that is mostly likely to affect the currency pair you’re trading consistently. News from around the world can be found in different sources are it’s important to find the best.
