The calendar is a powerful informational tool which will help you analyze the market event tendency and make the well-targeted decisions in your trading.
It’s easy to use in order to interpret the global economic news as it shows:
- The time when this news is released
- The currency the news may have an influence on
- The importance of the released news (based on the color code)
- The basic interpretation on how the currency values may vary based on the Previous, Forecast and Actual indicators
- The historical overview of the news (general data, historical values from the beginning, and the same values compiled in a chart)
The first two points are pretty much understandable, though the last ones need to be clarified.
In point #3, using the color code is vital when it comes to identifying which news should be taken into account more closely and which are not.
White represents holidays and doesn’t contain any significant information.
Grey shows pieces of news that have a low level of importance on the market in general. It’s most likely that this news won’t have any effect on the currency movements.
Orange signifies the medium-important news. It may happen so that the news affects quotations, depending on the actual indices in comparison to the forecast ones.
Red news is highly significant because, when released, it has a direct influence on the market, changing very rapidly. This news matters and should be taken into account attentively.
The point #4 is valuable when considering the Actual and Forecast indices. In case the Actual value when released is greatly different from the Forecast value, the market will move much more strongly.
Moreover, by clicking on the news name it’s possible to view its general overview and the historical data that will help you understand how the news may influence the market.
Having such information about the Calendar, you can manage your risks efficiently and understand which news will affect the market and adjust a trading strategy accordingly.
Global economic calendar
This calendar is a very powerful information resource which will help you to predict future changes on the Forex market and make considered trading decisions.
Why use it?
- Completely customized
You can adjust the calendar parameters the way you wanted. By clicking on the More button, you can choose what news events to show (High/Medium/Low or No Impact) and currency values those events may have an influence on.
By clicking on any pieces of news, you can see a short review of what this news is about and what currency it may affect and how.
The calendar can be easily downloaded to your mobile device (Android or iPhone) so that you could keep in touch with the latest news momentarily.
The information based on this calendar may be effective for you in combination with the Metaquotes Calendar. Using it reasonably will help you succeed in Forex.