We saw the release of individual as well as Eurozone manufacturing data. They all point to continued contraction, but business news are filled with this better-than-expected contraction. A contraction is a contraction and it is negative for the economy. We saw what happened back in 2008 when financial markets rallied on better-than-expected negative news. On top of that the rally came on the back of low volume.
When it comes to forex trading, currency pairs move after economic data is released. Do you adjust your positions based on economic releases? Personally I do not trade news events and stick to technical analysis and price action. I do think that economic news can offer great entry or exit points.
Looking forward to what you guys think about it.
When it comes to forex trading, currency pairs move after economic data is released. Do you adjust your positions based on economic releases? Personally I do not trade news events and stick to technical analysis and price action. I do think that economic news can offer great entry or exit points.
Looking forward to what you guys think about it.
