A scraper for forex factory economic calendar data GitHub

To do this we need to understand how economic data can impact the forex https://www.cmcmarkets.com/en/learn-forex/what-is-forex market. Using the news to trade forex is called fundamental analysis.

forex factory news

The President reads the statement, and press representatives ask questions. During the press conference, the ECB President supported the rate cut. However, he added that the ECB expects inflation to pick up next year. By doing that, you’re asking the calendar Forex news only to tell you information that has a high and medium impact. You can also choose dates that have passed, and you’ll see news and information that was posted on that particular day. Understand each column, including the actual and forecast results.

High-Frequency Trading

How to use Forex Factory sentiment indicator and find high probability trading setups. Here the trader can use some basic technical analysis of support and resistance to pre-determine entry and exit point for the trade before the news is released. Before we end this section, I would like to point out that the news which causes these types of moves isn’t always immediately apparent. The markets can move because of an unscheduled event Forex or perhaps an event that has already passed and the market is just now realizing the impact. Regardless of how or when the news occurs, the two strategies above give you a quick and easy way to read the news via your charts. We’ve all been there – that point of indecision before a major news event is about to hit. As a general rule, I like to see at least a 24 hour window in which there is no scheduled news before putting on a trade.

  • A flag icon indicates the country of the data release, and next to it, its currency.
  • The way to interpret the PMI is keeping an eye on if the number is above or below 50.
  • You shouldn’t overlook setting up your time zone when you first start using the Forex Factory calendar.
  • The President reads the statement, and press representatives ask questions.
  • This means setting the filter to include only the medium and high-impact news events.

Below we’ll explain how to use this resource, what each column means, and how to set everything up, including your time zone, event filter, and news filter. Some Forex traders simply want to see what time and date the Forex news is going to be released and as that time is being approached, they exit all their trades. They may have made sufficient profits and don’t like the chance that the news might make the market go the other way and eat up their trading profits. Launched in 2004 the Forex Factory website is indeed a great resource for all categories of traders. I have written before about how to use the news to gauge market sentiment. However this time I want to talk about actually reading the news through the price action strategies that form on your chart. That concludes the process of setting up the FSCLC calendar.

The Actual Column

Now let’s get into the second half of this tutorial and discuss how to use what you’ve just learned to your advantage https://www.trustpilot.com/review/fsclc.eu when trading Forex price action. It can be far too easy to get caught up in the nuances of each event.

forex factory news

The rest are big commercial banks, Forex brokers, liquidity providers, investment funds, and so on. The best way to interpret economic news is to have a trading plan for the week/period ahead. Knowing what data follows is a great advantage ahead of the market. One way to succeed is to use the FX trading calendar correctly. Keep in mind that fundamental analysis in Forex trading is as important as technical analysis. Once you do that, you’ll see the actuals versus the forecast figures based on the news events and dates graphed out for you.

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