April 29, 2008

Forex News Patterns

I have to confess that I don't trade trade the forex markets during important economic announcements and news releases as I've never personally found it to be profitable. However that's not to say that there aren't people who do make decent profits from trading the news.

For those of you who are interested in trading news announcements, I've recently come across what appears to be a very useful site. It shows you what happened to the price of the major currency pairs after previous announcements, so the theory is that you can use this information as a guide to determining how the major pairs are likely to react to forthcoming announcements.

I'm not totally convinced that you can use past price moves to indicate future reactions but it's an interesting site nevertheless. Here's the link so you can check it out yourself:

http://www.forexnewspatterns.com

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