best online Forex trading applications that could increase the income you will
get. Knowledgeable traders begin preparation for each trading session by
spending enough of time and effort to review the currency pair charts and
studying the several financial reports reviews. At the same time, if an intra-
day trade is within progress that has a potentially risky financial report soon
to be announced, a decision can be made as to whether to exit the trade, or
otherwise move the stop to preserve earnings or decrease losses.
However, how can regular Forex traders with practically no experience trading
Forex is able to analyze and evaluate the Forex Fundamental outlook of the
various foreign currencies. One newly obtainable free online resource I stumbled
upon is available at Fundamental Forex Outlook dot com that offers all of the
proper resources that can assist you with the challenging task of Forex
Listed below are four good tools available to the average Forex trader,
The Currency Outlook Score, which is basicallya score that is specified to
each currency depending on economic indicators and high impact news releases. A
currency score of minus 3 to plus 3 is assigned to each scheduled news event
based on its importance, market focus, and surprise factor.
For example, the US Employment Change release should have a higher impact
than the ISM Non- Manufacturing PMI figure in the US dollar, but if the ISM Non-
Manufacturing PMI comes out5 points more than the anticipated release, it will
have the same impact on the US dollar when compared with the Employment Change
in the long term.
The Outlook Score is the amount of all of the individual scores designated to
each high-impact news release, and the score is transferred over from one month
to the next; this is based on the idea that fundamental sentiments are also
carried over from month to month. This score is modeled after the Purchasing
Managers Index, PMI, so any score of 49 or below is regarded as a Bad
Fundamental Outlook, Downtrend, a score between 50 and 54 is a Neutral
Fundamental Outlook, Neutral Trend and a score of 55 and above is considered as
a Positive Fundamental Outlook or Up Trend.
From the home page, you can easily click on one of the major eight currencies
to see each its existing score and trend. This alone will give you an instant
overall view of the currency Fundamental Analysis without needing to spend a lot
of time studying and going over the several news reports.
The Forex News Release Score Details Table and Historic Chart, is
essentiallya table that lists all of the scores designated to each individual
news report that may impact the Forex fundamental analysis and outlook of each
currency. You have the choice to view the descriptions on each particular news
event as well as loada historic data view of its impact at the time of the news
release. Besides being able to see how the market reacted to high impact news
releases, you can even switch to higher time frames or view the market reaction
on different currency pairs.
The Breaking News Section, on this section, you can see all the breaking news
that are impacting each currency in the Forex market. This is equal to sifting
through all of the economic news and analyzing them to find the news that
actually has an impact on the Forex market.
To summarize, the Fundamental Forex Outlook site is free and enables you to
stick to the right side of the market by providing you the applications you'll
need. Specifically in the long term point of view, you can buy currencies that
have a very good outlook score against currencies with poor outlook scores.
Visit these free resources, might possibly assist you increase your Forex
trading virtually overnight.