What websites to use for forex fundamentals

forexfactory.com is a really good site to actually use for your Forex fundamental trading analysis. The website has many key features where you can view what the up-and-coming news events are on any particular currency pair. When you visit Forex factory you will notice there is folders and currencies with different colours, you really need to only pay attention to the red folders the red folders are high volatility days and these are the days where you should not be trading that particular day. There are many news releases published every single day which affect the Forex market and this can also affect your trading strategy hence the reason it’s always wise to check the fundamental news before trading this will give you a good indication on when to stay out of the market.

The website also has a Forex session tracker which shows you four of the main sessions that take part in the entire Forex trading world. You can also gain news and see exactly how news has played out on a particular currency pair if news is positive then you can expect a bullish trade for that particular instrument if the news is negative you can expect a bearish move in that particular currency pair. Remember in the Forex market it’s always a fight between the bulls and the bears meaning the buyers and the sellers and price will consistently always have to move either in one or the other direction which is up or down. As traders it’s our job to actually get as much knowledge as possible before trading which gives us a good confirmation on when to enter and exit a particular trade. Forex factory is a great way for your fundamental analysis. Another website which is very good is called The live currency strength meter if you give that a quick Google you will discover there’s a website which actually tracks the live currency strength on all your major currency pairs.

The live currency strength meter website gives you a very good indication of how strong a particular currency pair is, it’s usually measured using five or six coloured bars, the more coloured bars the more stronger the particular currency, the less bars the more weaker that particular currency. Remember fundamentals is a great way of knowing why a price has moved for a particular instrument, there is also the technical analysis which also needs to be studied and that includes charts and technical indicators. In conjunction with each other the fundamentals and the technical analysis a trader becomes more confident in the actual position. Along with these two main subjects of trading there is one more important subject which a lot of people generally don’t want to study and thats risk management. Risk management is using your balance and using it wisely in a nutshell. The whole world of trading is under something we called speculation, which means we are literally predicting where price is going to move. Hence the reason very good risk management is required in order to become a profitable consistent Forex trader. At IFA we teach risk management and we take it very seriously as we know this is the thin line between a traitor becoming profitable and a trade or becoming non-profitable. Other good places to check trading fundamentals is government websites such as the federal reserve to check bond rates to check interest rates because all of these factors have a huge impact on the prices and the trading Forex world.

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