Forex economic calendar

To stay informed about all economic and financial events, any forex trader needs to monitor the latest news, and a forex economic calendar is a great tool for this.

Thanks to this, you will find out not only when the news will be released, but also which currency it will have the greatest impact on, the expected exchange rate forecast, and some additional information.

• The date and time when the expected news will be published.
• The currency that is most influenced.
• Importance – characterized by the number of bullish heads; for trading, it is better to focus only on the most significant news, as this is what influences the current exchange rate.
• Index – the name of the expected message.
• The index's indicators —current, projected, and previous—help predict possible future developments using the Forex calendar. Sometimes, the exchange rate reacts quite strongly even to forecast data, so a trade can be opened at that point. If the forecast is confirmed, the trend will continue; otherwise, a reversal will occur.

Forex Economic Calendar Trading Strategy

The Forex calendar is primarily used when trading with the Forex news strategy, which is based on fundamental analysis. The strategy is quite simple and can be used even by a novice trader.

The whole process should be divided into several stages:

1. On the Forex economic calendar, click the "Filter" tab and select the desired currency, for example, USD (US dollar). There, we also select the events in order of importance we want to monitor. It's best to focus only on the most important news items, which are marked with three bulls. Then, click the "Refresh" button.

As a result of the settings we have made, we display only the most important news on the US dollar.

2. In the second step, we go to the news feed of one of the brokers and wait for the release time of the required news.

3. The third stage is the most important: as soon as the news comes out, we evaluate the degree of its impact on the currency: positive – the currency rate rises, negative – it falls.

For example, if you're trading the USD/JPY currency pair and a news item on the Forex economic calendar has a negative impact on the dollar exchange rate, you should expect a downtrend. In this case, you'd open a sell trade.

When opening trades, be sure to pay attention to whether the selected currency in the currency pair is the base or quoted currency. In the former case, a direct correlation is observed, while in the latter, an inverse correlation is observed, meaning that positive news leads to a decrease in the price of the currency pair, while negative news leads to an increase.