In this post, I will explain the 9 thing the forexfactory calendar tells you…that is if you are thinking of trading forex news. I always set my time on forexfactory website to my local time zone because the time you see there is not your local time zone.
This makes it easier for my head not to calculate by converting the timezone there to my local time. As mentioned, the time that you see here is not based on a different time so, if you want to, you can change it to match your own local time. All you need to do is click that link and you will be taken to a page where you can change the time zone settings so that the time in the forexfactory website matches your local time on your computer:. This column list the currency pairs that are going to be impacted by the release of forex news.
For example, if Australia is going to make an interest rate announcement, any currency pair that is pegged to the Aussie Dollar will be impacted. This column simply tells the potential severity of the impact a forex news is going to have on a currency pair. The impacts are color coded into 3 colors:. In the detail column, you have a yellow folder icon. When you click that icon, a page opens up you can read a lot more detail about the particular news, details like:.
The actual column shows you the actual figures figures that were released during the news. Right after the actual column, you have the forecast column.
Now, both the forecast column and actual columns are really important because many traders react to the differences in the forecast and actual. What if the economists were forecasting that the Reserve bank of Australia was going to decrease the the interest from 2. How do you think the traders will react to that? The most likely outcome would be that there will be lots of buying. When you go to the graph column and click the graph icon, a page will show up showing you a graph of the actuals vs the forecast figures of the news from the past dates that were released:.
I should have placed the forexfactory calendar legend in the 1 spot but hey, I got distracted whilst writing this post so that means its going to make the last of the list.
Right, on the legend on forexfactory calendar simply tells you what each of the objects, symbols and colors that you see on the calendar means:.
There are few others under the legend as you can see which I have mentioned here but are really self explanatory. Navigation Column Forexfactory Calendar Feature 3: Currency Column Forexfactory Calendar Feature 4: Impact Column Forexfactory Calendar Feature 5: Detail Column Forexfactory Calendar Feature 7: Actual Column Forexfactory Calendar Feature 8: Forecast Forexfactory Calendar Feature 9: Previous Forexfactory Calendar Feature Graph Forexfactory Calendar Feature Prev Article Next Article.More...