Making Money Online Blueprints
18
FEB
2016

Be Aware Of Forex News Coming out

 

When trading Forex, it is really important to be aware of Forex news coming out which may affect your trade.

A great example of this happened this morning.

The EUR AUD had broken a support and the 4 Hr bar had closed below it.

Forex EURAUD Four Hour Chart Before News

But when I checked the news I could see AUD employment data coming out.

Forex News example - EUR AUD before Forex news released

When the news came out the Australian employment figures were much worse than expected, Forex News example - EUR AUD after Forex news released

… and hey presto, looking at the 1 minute bar at 02:30 on MT4 (which is actually 00:30 UK time when the news was released), there was a massive spike north which would have hit my stop had I taken the trade.

Forex EUR AUD One Minute Chart

4 Hour Chart – Spike would have hit my top:

Forex EUR AUD Four Hour Chart After News

So being aware of what news was coming out, and having the discipline not take the trade because of it, I saved myself having a losing trade.

The calendar I have used above is on Forex Factory.

All resources I am using are listed on my resources page.

About the Author
David Summer, father of three, living in the UK.

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