In a world of unlimited data, what key news and information should investors and traders in forex focus on?
There are tons of data points and information that can hang up the average trader.
I focus on a few that really can be “trend changing events.” Interest rate decisions, and employment reports. Those two pieces of data have the ability to actually change the direction of the trend. Or maybe better said, have the highest possibility to change the direction of the trend.
Employment change and interest rate decisions by central banks sometimes actually can influence me from taking a trade, or will prompt me to exit in certain circumstances.
There are obviously others, but most pieces of economic data may disrupt a trend in the FX market. However, if the market is in a strong enough trend, the market tends to revert back after disruptions.
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About: Blake Morrow is the Chief Currency Strategist for Wizetrade. Blake has over 15 years of trading experience and has been a co- owner of a Dallas based brokerage firm and LiquidTrader Technologies. Currently, Blake does analysis for thousands of individual traders on his “The Morning Edge” webinar for 2 hours each day from 7 – 9 am covering inter-market relationships and Forex. He has also appeared as a regular analyst on Wizetrade TV and Traders Television. Blake is a seasoned individual investor in equities and FOREX.
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