List of Recommended Pairs For Forex News Trading


GUIDELINES: The recommended pairs were derived from the historical behavioral pattern of currency pairs during news release taking into consideration the economy outlook of the strength and weakness of the pairs. 

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To trade the news e.g. US NFP, I would pair the (USD) with any of the recommended pairs like NZD, GBP or JPY. I strongly advise trading against the weaker pairs for anticipated positive outcome on the major currencies, and counter/opposite or middle/stronger pairs for anticipated negative outcome. For more guidelines: See the article on How I Trade The News Part 1, 2 & 3. 

Please see risk disclaimer notice below before applying any of these recommendations.

Type in the box below to Find or Filter news in the table



S/N COUNTRY NEWS RECOMMENDED PAIRS
1Australia (AUD)Building ApprovalsUSD, JPY, CHF, NZD
2Australia (AUD)Retail Sales m/mUSD, JPY, CAD, CHF, NZD
3Australia (AUD)Employment ChangeUSD, CAD, JPY, EUR, NZD
4Australia (AUD)Unemployment RateUSD, CAD, JPY, EUR, NZD
5Australia (AUD)CPI q/qUSD, CAD, JPY, EUR, NZD
6Australia (AUD)RBNZ Rate StatementUSD, JPY, NZD, CAD
7Australia (AUD)PPI q/qUSD, JPY
8Australia (AUD)RBA Rate StatementUSD, JPY, EUR, CAD
9Australia (AUD)Trade BalanceUSD, CAD, JPY
10Canada (CAD)Trade BalanceUSD, GBP, JPY, EUR
11Canada (CAD)Ivey PMIUSD, GBP, JPY, EUR
12Canada (CAD)Building PermitsUSD, GBP, JPY
13Canada (CAD)Employment ChangeUSD, GBP, JPY, CHF, AUD
14Canada (CAD)Unemployment RateUSD, GBP, JPY, CHF, AUD
15Canada (CAD)Manufacturing Sales m/mUSD, GBP, JPY
16Canada (CAD)Bank of Canada (BOC) Monetary Policy ReportUSD, GBP, JPY, CHF, AUD
17Canada (CAD)Bank of Canada (BOC) Rate StatementUSD, GBP, JPY, CHF, AUD
18Canada (CAD)Bank of Canada (BOC) Press ConferenceUSD, GBP, JPY, CHF, AUD
19Canada (CAD)Core Retail Sales m/mUSD, GBP, JPY, CHF, AUD
20Canada (CAD)Retail Sales m/mUSD, GBP, JPY
21Canada (CAD)Core CPI m/mUSD, GBP, JPY, CHF, AUD
22Canada (CAD)GDP m/mUSD, JPY, GBP, EUR, AUD
23China (CNY)Manufacturing PMIUSD, GBP, EUR, CAD
24China (CNY)CPI y/yUSD, GBP, CHF, EUR, CAD
25China (CNY)PPI y/yUSD, GBP, CHF
26China (CNY)Trade BalanceUSD, GBP, EUR
27China (CNY)GDP q/qUSD, GBP, CAD, CHF, AUD
28China (CNY)HSBC Flash Manufacturing PMIUSD, GBP, EUR, CAD
29Euro (EUR)French Flash Manufacturing PMIUSD, GBP, JPY
30Euro Zone (EUR)CPI Flash Estimate y/yUSD, GBP, JPY, CAD
31Euro Zone (EUR)Core CPI Flash Estimate y/yUSD, GBP
32Euro Zone (EUR)Retail Sales m/mUSD, GBP, JPY, CAD
33Euro Zone (EUR)Unemployment RateUSD, GBP, JPY, AUD, CAD
34Euro Zone (EUR)ECB Press ConferenceUSD, GBP, JPY, CAD, AUD, GOLD, CHF
35Euro Zone (EUR)ECB President Draghi SpeaksUSD, JPY, GBP, AUD, CAD, GOLD
36France (CHF)CPI m/mUSD, JPY, GBP, CAD
37German States (EUR)German Prelim CPI m/mUSD, GBP, JPY, AUD, CAD
38Germany (EUR)German Retail Sales m/mUSD, GBP, JPY, CAD
39Germany (EUR)German ZEW Economic SentimentUSD, GBP, JPY, CAD
40Germany (EUR)German Flash Manufacturing PMIUSD, GBP, JPY
41Japan (JPY)Monetary Policy StatementUSD, GBP, EUR
42Japan (JPY)Bank of Japan (BOJ) Press ConferenceUSD, GBP, EUR, CAD
43New Zealand (NZD)CPI q/qUSD, JPY, AUD, CHF
44New Zealand (NZD)Trade BalanceUSD, JPY, CHF, AUD
45New Zealand (NZD)Reserve Bank of New Zealand (RBNZ) Governor SpeechUSD, JPY, CHF
46New Zealand (NZD)Employment Change q/qUSD, JPY, CHF, AUD
47New Zealand (NZD)Unemployment RateUSD, JPY, CHF, AUD
48UK (GBP)Manufacturing PMIUSD, CAD, JPY, EUR
49UK (GBP)Construction PMIUSD, CAD, EUR, JPY
50UK (GBP)Services PMIUSD, CAD, EUR, JPY
51UK (GBP)Halifax HPI m/mUSD, JPY, EUR
52UK (GBP)Manufacturing Production m/mUSD, CAD, JPY, CHF, NZD
53UK (GBP)CPI y/yUSD, CAD, JPY, EUR
54UK (GBP)Bank of England (BOE) Governor SpeechUSD, CAD, JPY, EUR, CHF
55UK (GBP)Retail Sales m/mUSD, CAD, JPY
56UK (GBP)Claimant Count ChangeUSD, CAD, EUR, JPY
57UK (GBP)MPC Asset Purchase Facility VotesUSD, CAD, EUR, JPY
58UK (GBP)MPC Official Bank Rate VotesUSD, CAD, EUR, JPY
59UK (GBP)Unemployment RateUSD, CAD, JPY, EUR, CHF
60UK (GBP)Prelim GDP q/qUSD, CAD, JPY, CHF
61UK (GBP)Bank of England (BOE) Inflation ReportUSD, CAD, JPY, EUR, CHF
62USA (USD)Unemployment ClaimsEUR, JPY, NZD, AUD, CAD
63USA (USD)ISM Manufacturing PMIEUR, JPY, NZD, AUD, CAD
64USA (USD)Fed Chairman Bernanke SpeaksJPY, NZD, EUR, GBP, AUD
65USA (USD)FOMC StatementJPY, NZD, EUR, GBP,
66USA (USD)ISM Non-Manufacturing PMIEUR, JPY, NZD
67USA (USD)Trade BalanceJPY, NZD, EUR
68USA (USD)ADP Non-Farm Employment ChangeJPY, NZD, EUR, AUD, CAD, GOLD, CHF
69USA (USD)Unemployment ClaimsJPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
70USA (USD)Non-Farm Employment ChangeJPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
71USA (USD)Unemployment RateJPY, NZD, EUR, AUD, CAD, GOLD, CHF
72USA (USD)Core Retail Sales m/mJPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
73USA (USD)Retail Sales m/mJPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
74USA (USD)PPI m/mJPY, NZD, EUR
75USA (USD)Core PPI m/mJPY, NZD, EUR, CAD
76USA (USD)Core CPI m/mJPY, NZD, EUR, AUD, CAD, GOLD, CHF
77USA (USD)Fed Chairman (Bernanke) SpeechJPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
78USA (USD)Existing Home SalesJPY, NZD, EUR, GBP
79USA (USD)New Home SalesJPY, NZD, EUR, GBP, CAD
80USA (USD)Core Durable Goods Orders m/mEUR, NZD, JPY, AUD
81USA (USD)Durable Goods Orders m/mEUR, NZD, AUD
82USA (USD)Pending Home Sales m/mEUR, JPY, NZD
83USA (USD)Federal Reserve Chairman Statement JPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF



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RISK DISCLAIMER NOTICE: News Trading is associated with extreme volatility, which has the capacity to cause undesired effects on your account. The outcome from news release cannot be fully predicted, and released figures are sometimes subjected to reviews without notice. The negative effect of this is capable of causing huge draw down in your account in a split of seconds especially when you over leverage. There are strong possibilities that certain unexpected change in some economic factors could cause strange behaviour on currency pairs hence FXTradeCity would not be held liable for any undesired results arising from the decisions taken by you when applying these recommendations. Please use Stop Loss, seek further financial advice, and apply best discretion always.

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How I Trade The News (Tools, Setup, Source) - Part 2

In the previous part i outlined some basic facts about News Trading, and the major currencies/investments that attracts investors, which drives the market.

This section reveals step by step guide on how i trade the news with sample illustrations. The first step is the introduction of some vital materials i use.

1st Step: Setup Materials
The charts below illustrates some tools i used to setup my chart to get prepared for news release.

https://drive.google.com/file/d/0B2cGd02M-NmRSnJ5Y2VreHlXNmc/edit?usp=sharing
 Click image to enlarge...
https://drive.google.com/file/d/0B2cGd02M-NmRZy1QaEExVVFvQms/edit?usp=sharing
 Click image to enlarge...

The 1st picture shows a sample of my chart setup containing some tools that alerts me when a news is about to be released at a specified time configured by me. It also keeps me informed of upcoming and past news events. The setup also contains a dynamic Support & Resistance Indicator as well as a dynamic Pivot Point, which acts as a guide to help me study the psychology of the market and to locate the best places to place orders. The One Click Trading
One Click Trading
tool is also part of the chart setup. I use it to place quick order(s) during a quick counter retracement or to trade spike trade reversals.

Download My Trade Setup Indicators Here: https://docs.google.com/uc?export=download&id=0B2cGd02M-NmRV3ZBckc5ajdjVEE


Titans


The 2nd chart is a little different from the the 1st chart only for the news economic tool which displays the actual release on the chart. However the release is not as fast as other 3rd party news engine sources, so i rarely use it.

Other important resources:
1. Forex Factory
2. My personal News Calender on my blog.
3. Henry Liu's pre-news analysis
4. News Trading EAs (I seldom use them)
5. Cable/Satelite Network (for live speeches, press release, interviews, e.t.c.)

2nd Step: Get Pre-News Release Schedule 
I get this weekly from several sources to get me prepared adequately. When reviewing the news calendar or schedule for the week I put more interest on the impact and the time schedule. Getting this information on a Sunday before the beginning of the working week is the best. It helps me to plan adequately for the week or days ahead most especially for midnight news release due to my geographic location.
Apparently there are far lesser economic activities on Sundays around the World except in some Asian Markets.
Lookout for daily analysis of the news release hours or if possible a day before. Henry Liu's pre news analysis is one of the best i can recommend. Apart from analyzing the expectations of the news release, they offer trade guidelines on the best pairs to trade.   

High impact news are the best to trade. However their impact is still subject to amount of data released. So not all of them could be profitable. Therefore take the advise or guidelines of pre-news analysis from experts seriously.


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3rd Step: Watch For Signs Prior To The News Release
Watch out for certain market signs that indicates the likeliness of a possible high impact or apparent closeness to a news release. See some of the signs below:

- Narrow price movement extending for hours before the news release.
       

    - Pre-news reaction. In some cases there is a slight or consistent push in the market arising from traders sentiments towards the expected outcome of the news release. Be very careful with this sign. It's most often seen with an engulfing candle pattern.


    - A very slow or an abrupt halt in the market movement. It is what i call the market quiet time. This sign means the market participants (i.e. bulls/bears) are waiting earnestly or holding back for an important information, which would decide the long or short term direction of the market. It's one of the major positive sign of an upcoming news release with a very high impact. This sign helps me to detect which pairs are likely going to have a greater impact.

    - Inconsistent and continuous series of candle patterns (doji's, hammers, inverted hammers, kickers, e.t.c.). The inconsistent candle patterns is a display of the irrational reaction of the market to an upcoming news release.

     
    4th Step: Place Orders
    100% BonusThis should be done systematically. You need to understand the signs, and market behavior before placing orders. There are cases where your orders would be triggered at the wrong time due to what i call tremor of the market (i.e. mini shocks before the real impact). So placing of orders is a dynamic thing. It might require constant modification until the news release.

    News release accounts for a higher percentage of market volatility, and hence can cause irrational price feed lags, which results to error messages such as "Trade Context Busy", "Invalid SL/TP", "Requote", platform hang, e.t.c. More often traders blame their brokers for this but it is not entirely their fault. The steps presented here reveals a way out of this problem.

    In the final part we will learn which pairs are the best to trade for a particular news release, and how to place orders and manage them.

    Meanwhile i recommend looking up on our article: Forex Currency Pairs & How They Relate.

    Watch out for Part 3.


    Image (News Dice) courtesy of Stuart Miles / FreeDigitalPhotos.net

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