To consistently turn a profit as a forex trader, your trading strategy can’t only rely on economic calendars and technical indicators to identify trading opportunities as they develop.
Because forex trading is highly speculative, the sentiments of the overall forex market can be highly influential on the valuation of certain currencies—which means overall trader sentiments can actually move the prices of positions you’ve been targeting.
Understanding the impact of currency pair sentiment on forex prices is a crucial component of any winning forex trading strategy. The better you’re able to understand these sentiments through the quantified tools and resources available to forex traders, the more effectively you will be able to make timely trades that leverage sentiment with other analyses to better predict price movements and profit opportunities.
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