Forex Trading Strategy
You can choose either technical or fundamental analysis. Or their combination. Technical analysis is considered to be easier to handle than fundamental. But most specialists advise to combine them. So, about this two types (or genres) of forex strategies:
Fundamental Analysis
Fundamental analysis is good to predict long-term trends. These are the main indicators: Non-farm payroll, purchasing managers index, consumer, price index, retail sales, durable goods.
What else can influence price fluctuation? For example, Federal Open Market Committee and Humphrey Hawkins Hearings. Even if you’ll read only the reports it will give you a better understanding of the ForEx market. But you should know when the reports are released.
Technical Analysis
Another strategy is technical analysis. We can talk about the most common forms of technical analysis: the Elliot Waves, Fibonacci studies, parabolic SAR, Pivot points. |
