Thursday, March 26, 2015

Making time for market analysis

The key is to develop an efficient daily routine of market
analysis. Thanks to the Internet and online currency brokerages,
independent traders can access a variety of information.
Your daily regimen of market analysis should focus on:
Overnight forex market developments: Who said what,
which data came out, and how the currency pairs reacted.
Daily updates of other major market movements over
the prior 24 hours and the stories behind them: If oil
prices or U.S. Treasury yields rose or fell substantially,
find out why.
Data releases and market events (for example, the
retail sales report, Fed speeches, central bank rate
announcements) expected for that day: Ideally, you’ll
monitor data and event calendars one week in advance,
so you can be anticipating the outcomes along with the
rest of the market.
Multiple-time-frame technical analysis of major currency
pairs: There is nothing like the visual image of
price action to fill in the blanks of how data and news
affected individual currency pairs.
Current events and geopolitical themes: Stay abreast on
issues of major elections, political scandals, military conflicts,
and policy initiatives in the major currency nations.

1 comment:

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