We have discussed in early posts of Forex Urdu Training that Forex Events or Forex news have great impact on currencies. It is therefore mandatory to keep an eye on Forex Events. There are many news and events that affect Forex, some have greater impact and some has less. Some Forex news are directly related to a particular currency pair but these news put an impact indirectly on other currency pairs as well. In this post of Forex Trading In Urdu, we will discuss this impact.
For example, The president of ECB (European Central Bank) often speaks to the media regarding Euro zone Economy. His words are closely watched by traders and his remarks would effect Euro pairs to a great extent. If he gives a negative word regarding the Euro zone economy, it is expected that Euro rate will fall to a large extent. It may happen that Euro rate falls to more than 100 points on negative remarks of ECB president. In that particular case, It is better to sell Euro.
It is advised to wait for at least five minutes after the completion of that news event. Watch candle stick chart of five minutes. If a dark candle (Red or Black) appears after that event, It is surely the falling trend indication. It is better to sell of Euro. If he gives positive remarks regarding Euro zone economy, Wait for the appearance of Green candle to buy Euro in five minute charts.
There are many other events of Forex that effect currency rates. If we take Euro as an example, Jobs Data, GDP, PPI, Factory orders and few others will have an impact on Euro. Some has larger impact and some has smaller. The most important factors as per our experience are Jobs Data and President remarks.
Same goes to other currencies like USD, GBP and Japan Yen. The presidents of those banks also have an impact on those currencies. We have told earlier that two websites are very good for Forex real time news. www.investing.com and www.dailyfx.com. we can monitor economic calendar with time. The news event time is also given with the news. These websites are mostly updating the news results within 1-2 minutes of that event. We can get updates for free.
I hope this lecture of Forex Trading In Urdu will help our blog readers. Follow our blog to get free training of Forex and online money making. Share your comments for the betterment of this Forex Training blog.
It is advised to wait for at least five minutes after the completion of that news event. Watch candle stick chart of five minutes. If a dark candle (Red or Black) appears after that event, It is surely the falling trend indication. It is better to sell of Euro. If he gives positive remarks regarding Euro zone economy, Wait for the appearance of Green candle to buy Euro in five minute charts.
There are many other events of Forex that effect currency rates. If we take Euro as an example, Jobs Data, GDP, PPI, Factory orders and few others will have an impact on Euro. Some has larger impact and some has smaller. The most important factors as per our experience are Jobs Data and President remarks.
Same goes to other currencies like USD, GBP and Japan Yen. The presidents of those banks also have an impact on those currencies. We have told earlier that two websites are very good for Forex real time news. www.investing.com and www.dailyfx.com. we can monitor economic calendar with time. The news event time is also given with the news. These websites are mostly updating the news results within 1-2 minutes of that event. We can get updates for free.
I hope this lecture of Forex Trading In Urdu will help our blog readers. Follow our blog to get free training of Forex and online money making. Share your comments for the betterment of this Forex Training blog.
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