Image is a screenshot from my phone.
Hello fellow readers, we are here today to learn how to exact useful data for trading from Forexfactory. Those who are into forex trading may have heard of this site, which has some resourceful information about the news which shows some impact on the trend of the forex pair. From the emerge of crypto currency, they are also providing crypto currency related news which can impact the up and down trend of the trade. When we go to the site, in the menu option we can select the crypto craft to view the decisions of nationals and their meetings time which can show much to some impact on the trading trend.
These site provides the news in time frame of 24 hours with three types of impact. They are yellow, brown and red. The color yellow means that news may impact on the crypto trading to some to no impact at all. The color brown means the implicated news may have some impact on the trading which may either go up or down depending on the positivity of the news. The color red indicates the strong impact on the trading given a chance the market may fluctuate with high volatility and the trend up or down depends on the news positivity again.
We can also see the previous news impact and their actual, forecast and previous details with their percentage. By comparing a certain news and it's previous effect on the market may give us an idea on how the market will behave on those particular news. With the data this site provides, we can come to a conclusion of wether we should participate in the trade or to hold for a while. A week worth of news shows us the possibility of how the market will fluctuate in that period. As always there is a certain percentage of luck with the situations of the market like a sudden news of a nation accepting or rejecting crypto or a company failed and filed for bankruptcy like FTX. These are the variables which can drag or boost the trend of a crypto currency.
Hope you liked my article.
Disclaimer:- This article is neither a financial advice nor I'm a financial advisor. Do your own research before investing into a crypto currency.
