Trading forex news

  Trading forex news can be risky it is you against the currency market so you need to be careful. The swings during news release can be brutal it is not for the new forex trader. Experienced traders have spent years developing a trading style taking in consideration price action and focusing on their technical set ups. Most of the time the big money in the markets have already factored in the news and information ahead of the news release. This is why you need to be very cautious trading the news. The best way is to watch the price action after a news release and wait for a pull back then enter the trade staying with the trend. Watch your charts and place your trade from your technical analysis.

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AUD/USD chart

 

AUD/USD 23-Dec-15:00 -> 07-Jan-11:00 Target Level: 0.7643

SL: (A) 0.7643 Last TP of Channel Up RL: (B) 0.7820 Last TP of Channel Up Target Period: 2 days   Interval 1 hour Pattern Channel Up Length 158 Candles Identified 07-Jan-06:00

Channel Up identified at 07-Jan-06:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.7643 within the next 2 days. Supported by Downward sloping Moving Average

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EUR/USD forex

 

EUR/USD 15-Dec-02:00 -> 07-Jan-14:00 Target Level: 1.2209

SL: (A) 1.2209 Last TP of Channel Up RL: (B) 1.2349 Last TP of Channel Up Target Period: 3 days   Interval 4 hour Pattern Channel Up Length 53 Candles Identified 07-Jan-10:00

Channel Up identified at 07-Jan-10:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.2209 within the next 3 days.

USD/JPY

 

USD/JPY 24-Dec-18:00 -> 06-Jan-12:00 Target Level: 103.1925

SL: (A) 102.6055 Last TP of Falling Wedge RL: (B) 103.1925 Last TP of Falling Wedge Target Period: day   Interval 1 hour Pattern Falling Wedge Length 110 Candles Identified 06-Jan-04:00

Falling Wedge identified at 06-Jan-04:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 103.1925 within the next day. Supported by RSI below 40

GBP/USD

 

GBP/USD 14-Dec-10:00 -> 06-Jan-14:00 Target Level: 1.3703

SL: (A) 1.3559 Last TP of Rising Wedge RL: (B) 1.3703 Last TP of Rising Wedge Target Period: 2 days   Interval 4 hour Pattern Rising Wedge Length 48 Candles Identified 05-Jan-18:00

Rising Wedge identified at 05-Jan-18:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.3703 within the next 2 days. Supported by Upward sloping Moving Average