Most experienced traders first determine the general mood of the market before looking for a trade. Should the market be moving up or moving down in the week ahead? There is alot of information to take into account to develop a bias and the analysts at DailyFX offer their thoughts every Monday for you to use in your trading approach. You can find this by first clicking on the "Forex Market News" button at the top of the first page and then clicking on the "Forecasts" button.
Below is an example of what you will then see.
The analysts give their opinion of whether the market should be bullish (moving up) or bearish (moving down) for the week. If you then click on the currency you are following, you will find detailed reasons about how they developed that opinion. This gives traders an edge in their trading decisions as then they simply look for a trading opportunity in that same direction. It is also important to note that the market environment can change quickly in the FX markets, so traders should always trade with a protective stop in the market to limit their risk.
