Last Updated on: 22nd November 2023, 07:56 am
Market reviews relay the most relevant information about the foreign exchange market. The reviews cover a broad scope, encompassing major currency pairs, like the Euro versus US Dollar, and exotic pairs like Swedish Krona versus Japanese Yen.
From the average Joe’s perspective, the information may seem irrelevant and hold no value. However, from a trader’s standpoint, market reviews can provide a solid baseline for generating high-probability trade setups and successfully filtering out low-probability ones.
Tools and Features
As a tool, a market review can be posted either on a daily or weekly basis.
Longer time frame market reviews tend to be more reliable since the data is more robust and less sensitive to short-term economic changes.
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Features you’ll find in a market review will include which pairs are bullish, bearish, or neutral and what catalysts are expected to move the market significantly.
Currency charts and technical indicators embedded into them will also be included in most reviews to give you a more detailed and visual picture of the trade ideas being discussed.
Reasons to Use Market Reviews
Market reviews are not recommended as standalone sources for generating trade ideas and executing positions. However, when supplemented with other technical and fundamental tools, the signals generated have a higher probability of success.
Market reviews simplify the sometimes-complex analysis of professionals by removing the algorithms and manual systems that run in the back-end side. This leaves traders, regardless of skill level and experience, with information that’s easy to parse and follow through with.