how to Take First Learning Step in Forex Trading

n other words, you have to look at different factors to determine whose economy is rockin’ like a Taylor Swift song, and whose economy sucks. You have to understand the reasons of why and how certain events like an increa

in the unemployment rate affects a country’s economy and monetary policy which ultimately, affects the level of demand for its currency.

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he idea behind this type of analysis is that if a country’s current or future economic outlook is good, their currency should strengthen.

he better shape a country’s economy is, the more foreign businesses and investors will invest in that country. This results in the need to purchase that country’s currency to

For example, let’s say that the U.S. dollar has been gaining strength because the U.S. economy is improving. As the economy gets better, raising interest rates may be needed to control growth and inflation.

Higher interest rates make dollar-denominated financial assets more attractive. In order to get their hands on these lovely assets, traders and investors have to buy some greenbacks first. As a result, the value of the dollar will likely increase.

Later on in the course, you will learn which economic data points tends to drive currency prices, and why they do so. You will know who the Fed Chairman is and how retail sales data reflects the economy. You’ll be spitting out interest rates like baseball statistics.

But for now, just know that fundamental analysis is a way of analyzing the potential moves of a currency through the strength or weakness of that country’s economic outlook. It’s going to be awesome,

Earlier, we said that price action should theoretically reflect all available market information. Unfortunately for us forex traders, it isn’t that simple.

markets do not simply reflect all of the information out there because traders will all just act the same way. Of course, that isn’t how things work.

This is why sentiment analysis is important. Each trader has his or her own opinion of why the market is acting the way it does. The market is just like Facebook – it’s a

Kidding aside, the market basically represents what all traders – you, Pipcrawler, or Celine from the donut shop – feel about the market. Each

trader’s thoughts and opinions, which are expressed through whatever position they take, helps form the overall sentiment of the market regardless of what information is out there.

The problem is that as retail traders, no matter how strongly you feel about a certain trade, you can’t move the forex markets in your favor. Even if you truly believe that the dollar is going to go up