HOW DO Economic Events impact Global Currencies:
When I asked several traders about their thoughts about using fundamental analysis as a part of their trading decisions, I have received two opposite responses.
RESPONSE of Trader A
Fundamentals that you read about are typically useless as the market has already discounted the price. I am looking at (1) the long term trend, (2) the current chart pattern and (3) identifying a good entry point to buy or to sell.
RESPONSE of Trader B
I almost always trade on a market view. I don't trade simply on technical information alone. I use technical analysis and it is terrific, but I can't initiate or hold a position unless I understand why the market should move.
RESPONSE of Trader A
Fundamentals that you read about are typically useless as the market has already discounted the price. I am looking at (1) the long term trend, (2) the current chart pattern and (3) identifying a good entry point to buy or to sell.
RESPONSE of Trader B
I almost always trade on a market view. I don't trade simply on technical information alone. I use technical analysis and it is terrific, but I can't initiate or hold a position unless I understand why the market should move.
