Furthermore, several sites related to the foreign exchange, economic will, or financial aspect are also offering this tool. They may come in so many different forms, one of them is a table.
For a beginner, it maybe looks quite complicated. That is why; you need to learn more about the detail of this feature. Here is the further information of the foreign exchange calendar.
Forex Calendar in a Table Form
It was stated before that one of the forms that is commonly found nowadays is in a table. That contains of the various economic news globally which discuss the currency price movement.
That economic news can give a really huge effect and everything is based on the types and the results. Those are released in that table to give a complete information for the traders.
In the other words you can say that the news will be helpful. The example is to help them for deciding something or the further actions in the forex market. What is the aim?
The aims are varied. You may apply this strategy to gain more profit because all of the decisions are measured really well. That is the importance.
How to Set the Time
If it is your first time of using the forex calendar, it is recommended to set the time first. Why is it important? It is because the current time setting is maybe Is not right yet.
It means that the times is not suitable with those used in your country. To know whether it has been suitable or not, usually there is a button or feature to check that aspect.
The time setting is commonly placed in the top right corner or in the face page. After that, compare the hours, minutes, second, with your calendar, pc, or laptop to make sure That are the same.
How to Use the Forex Calendar
After knowing about the definition and also how to set the time, the next thing to know is about how to use it properly. There are two common ways which you should know.
Those are known as the impact column use and the actual use. Both of them are different between one and another. Below is the further explanation that you have to understand.
If the impact is red, so an event will have a high effect. Besides that, the actual usage means that you should pay attention so to the actual numbers’ color. Cancel your trading if it is black.
It is because usually the price movement will be not so significant. When it is read, the bearish in a related currency can be happened. That is the concept showed by a forex calendar.