Forex analysis is done by the forex traders to execute their orders of buy or sell on the currency pairs. The analysis can be technical or fundamental depending upon the resources used in the analysis. Analysis of forex trading can be categorized into three types, that is, fundamental analysis, technical analysis and weekend analysis.
Fundamental analysis is generally used to analyze the changes that occur in the forex market or the global economy. This generally comprises of the news events in the global market. Technical analysis can be both manual and automated. In this type of analysis, the technical indicators are looked at. The past price movements are used to determine the future and course of the given currency pair. Weekend analysis helps a trader to take into view the big picture. It also helps the trader to plan for the coming week.
List Of Sources For Real Time Forex Analysis
Traditional Financial News
Today, there are a lot of sources for news. However, when it comes to trading forex, you should only trust the traditional news outlets. You should only trust the news outlets that have been in the industry for a long time. What is important is that they offer you complete coverage for 24 hours. They give you updates on any new developments, especially about the central bank announcements, or the speeches of the finance minister. Some of the common news outlets are listed below.
Reuters Forex News
Reuters is a known name in this news industry and is followed and trusted all over the world. This is because it is resource rich and covers forex trading in every possible. Reuters also helps you by providing notifications and even monitors and processes forex exchange trade on the go.
Some of the resources that Reuters has which help in the analysis of forex trading are FX Trading, FXall and IFR Markets. The FX Trading delivers the quality value of the foreign exchanges to the new FX traders on a daily basis. The FXall is for the experienced traders. This helps in ensuring the liquidity in the forex market. The IFR Markets tell about the market sentiment and the flow by analyzing and forecasting the global events.
Bloomberg Terminal is a well received name if you are in the business of trading forex. It provides instantaneous financial information. Bloomberg Terminal is useful as it helps a retail investor as well as the active traders with many important things. The list follows below.
It gives the breaking news to the world. It provides with the real time information and the current financial news from all over the world. It would also help you if you are into trading stocks. Its terminal service is highly advanced, even letting you to compare the technical charts, apart from the fundamental analysis.
Wall Street Journal
Wall Street Journal is the largest newspaper in the United States by circulation. It has over two million subscribers. It is considered as a highly respected name in the financial news circuit. It provides you with the news and updates on the equities, currencies, bonds, commodities, and other financial services too.
MarketWatch monitors the international markets. It is a respected authority in the financial markets. It provides with the real time commentary, the investment data analysis, and the business news. It has tools which include stock screener, mutual fund screener, options trader, bigcharts and the forex factory.
The mutual fund screener allows the traders to search the mutual funds that are available in the industry. Options trader helps in options trading. It even provides trader with the stock tips apart from the risk management and the future trading trends. BigCharts helps the new traders to lay their hands on the charts, the market analysis and the market commentary.
Forex Factory has the largest forum of the foreign exchange market in the world. The site provides fast and accurate market intelligence report. Traders interact with each other on its forum. They share ideas and even teach each other besides taking part in the debates. There are threads for almost every topic that you can think of on this website.
Investopedia is the equivalent of Wikipedia of the financial markets. It gets over 60 million views in a single month. It provides with information that can be trusted and used further. It has a dedicated team of financial experts and data scientists who work in order to make it easy for the investors and traders to know the market and then invest accordingly. It even has a stock simulator where you can try your strategies without actually using your money.
ForexNews has been a frontrunner in providing people with news from the foreign exchange market since the 90s. It does in depth research and provides the users with the verified news from other sites like Reuters, Bloomber, and DailyFX. It also has forum where users can interact with each other, and also has technical graphs and analysis. You can also find updated calendars on this site.
The Bottom Line
Thus, we have seen some of the best sources for real time forex analysis. This is not to say that one can opt for other sources also to get forex analysis.
One should know that there is neither a best method of analysis nor is there any best source for forex analysis. It is to be considered here that whether or not you get real time forex analysis, it is highly important to conduct a weekend analysis. This is because the markets are not in a constant state of fluctuation and can help you better in making the strategies for yourself.
One should foray into the foreign exchange market after a lot of deliberations only. This is because the forex market is a highly volatile market and is not suited for retail investors. It is the world’s most liquid market and inexperienced traders can lose a fortune trading in the foreign exchange market.