Economic calendar - Reiman Group

How to use analytics based on the economic calendar?

Forecasts and analytics are the starting point of forex operations. You need analytics on Forex, no matter if you’re a beginner or a fairly experienced trader.

What are Forex market forecasts for?
Forecasts, forex analytics is the knowledge without which it is very difficult to achieve success on the forex market.
Therefore, to become a successful forex trader, you need to know and understand at least a little bit of analysis methods, be able to read stock exchange statistics, study materials and analyze possible factors having impact on forex.
Undoubtedly, in today’s world of information, with many sources available to you, and thanks to extensive use of special computer programs, monitoring the situation and making forecasts has become much easier than it was, for example, 20 years ago.
Analytics is necessary for traders on a daily or even hourly basis, in order to track changes in the market situation and react to them in due time, acting in order to increase their profits.
How are Forex forecasts made?
Forecasts, forex analytics consists of two main types of analysis: technical and fundamental.
We will tell you more about these types of analysis and try to explain what is its essence and how it can help a trader in forex.
Technical analysis in forex forecasting
Technical analysis is based on the development of various kinds of charts and diagrams, through which analysts identify trends and have the opportunity to analyze the situation on the forex market, as well as to make predictive calculations. The key point here is the trend, so technical analysis is also called trend analysis. Its basis is a wide application of mathematical tools: averages, probability theory, equations.
Fundamental analysis
The second type of analysis, through which it is possible to make predictions, forex analytics is called fundamental. The fundamental analysis is based on the research of macroeconomic situation, political events, industry development dynamics, regional trends.
In other words, in the case of the fundamental analysis, the factors, news and events that can affect the correlation of exchange rates are taken into account.