How to use The Forex Factory Economic Calendar - YouTube

Hello and welcome back to our YouTube channel.

This is Martin from ForexBoat and in today's video.

We're going to learn how to use the Forex Factory economic calendar.

The first thing I want to do is type in the following URL (forexfactory.com)

Make sure you type it as well.

If you want to follow along with this tutorial

then, you'll see here that this portal gets displayed.

It's the Forex Factory portal.

It's one of the most popular sites out there

visited by thousands of Forex Traders every day.

So you'll see here that

it has different features and you'll see here that it has for example forums

where different Traders interact and share their

ideas and setups

then you will have information about the currency pairs what's going on with them

So it's quite interesting if you want to

Check what's going on in the market

Then you have a news section and a calendar section,

which is going to be the main topic of this video

then you have a market section will where you will find different market analysis

and insights

and then last but not least you have a broker section in case you want

to check it out.

So let's jump straight ahead and go

To the calendar

and the first thing where I want to draw your attention is this navigation panel

here on the left.

You'll see here that this has a shape of a calendar in fact

and you'll be able to navigate the different days of the month, moreover

You can change months here with these arrows

you can go you can go as far as you want in time, to check previous events,

but

I'm gonna stick with today

something that you can use as well are these buttons here below

where you can go to tomorrow's event this week, next week,

this month or next month and

you'll see that you'll be able to check all the major

economic news or releases that are coming up something that

Something I mention as well is that whenever you click a day here or

you change

the date

you'll get this information from the main panel refreshed, right?

So that's important to understand as well.

And that's how the navigation panel works.

Then you can also change Dates here by using these arrows.

and the main section

or you can also here use these options to filter date ranges

Which is could be quite convenient as well.

But anyways, then we have the main section.

So the main section has different columns, which I want to explain.

The First Column here is the Date which is self-explanatory.

Then we have the

time (hour) of the day when the news or economic event is going to happen

or the release

is going to be published and

This in local time.

So I'll explain later how you can change the time

the economic calendar to your

computer time

and make sure you don't

miss an event because you don't have the right time here.

Then you have the currency and basically this column

refers to the main currency that's going to be impacted by the news release

of course

all the

Pairs where a determined currency is involved,

Even if it's the base currency or the quoted currency.

Those pairs will be impacted as well.

So that's something for you to take into account.

Then we have the column related to impact 71 00:04:27,251 --> 00:04:29,500 So if you go to the calendar and scroll down

you'll be able to see the legend.

So the red color,

means that its high impact.

Expected

event

that it will affect a lot the the market

then there's medium impact which is illustrated by the orange color,

then there's low impact which is represented by the yellow color.

Sometimes you have non economic events,

which are gray and I think most of these events are related to bank holidays.

So whenever you spot a bank holiday or several bank holidays in one day

that will give you an idea that probably there's going to be low activity for a

or low volume for a determined currency pair.

All right, so

Then we have the

the description, the main description or the title of the event.

Then you get to see this column with the detail,

which is quite convenient because you get more information about a specific event.

and more information about it.

So for instance, we're going to check.

Let's go back here, because I want to show you an example.

The unemployment claims, let's take this one as an example

and you see here the source.

So

in this case, it's the Department of Labor, which is a

government which is the government entity

that handles everything related to jobs press releases in the United States.

Then you have the measures or what's going on.

And here you'll see that it is

the number of individuals who filed for an employee insurance

for the first time during the past week.

Then you have the usual effect, which I'll take this with

a grain of salt here.

It says actual less than forecast is good for currency, but this is not always

the case because there's a lot of volatility involved

So, please be aware of this.

But you can see here that whenever the actual result

is higher than the forecast, forecast is like the prediction of most of experts,

They give a number that they think it's going to be

but then you get the actual press release

and if that press release is in this case is higher than

allegedly is not good for the currency if it's lower than it will be green

and it's good.

But this is just for reference

Of course, it will help in the long term

to get a good understanding of how a particular economy.

It's it's working or it's performing

but when it's released the news it can have a high volatility.

Then you get the frequency some economic news, as you may know are released

every month.

Some of them are released every quarter

some events that don't go by schedule.

So for example, whenever a president is speaking, it could be any time.

So take into account that

then there are some notes here that you can also check.

And why Traders care about this, so this detail Widget

it's very useful or this section is very useful

because it gives you more information about the news

then you get the whole historical data,

which very useful as well.

You can also check the graph.

So for instance

as of today, we're in the middle of the coronavirus crisis or period and you see

here how the trend of unemployment claims has been growing exponentially.

So this this this can give you a perspective of how the

what what what to expect in regards to the economy.

All right.

So let's close it.

Then you get here the column with the actual and forecast

as we explained before the forecast.

Is that kind of the prediction

or the consensus between most of the experts

and they its Consolidated here in a number

and then you have the the actual release which is the official information

and then you have also here it's the previous number which was released before

the actual number.

Then you can also use this window to open the graph again

in case you want to so that's

in a nutshell the main screen where all the magic happens

then I want to explain how to set up the so you click here

and then you select the time zone.

And then you can pretty much

configure if you want to see it in

which time format you want to use you can save it.

On well, it's done.

I'm going to change it again to my local settings.

Alright, so

let's go back to the calendar

and last but not least you can use this filter.

So for instance if you if you just want to follow

or track the news that have

high and medium economic impact, you can select them here.

If let's say you want to just track inflation and employment and Central Bank

economic releases you can

You can select them and let's say you don't want to track the yuan.

or the New Zealand Dollar or the Australian dollar.

You can apply that filter and you get

Just information want to check something important here.

It's that this green arrow will tell you which event is going to happen next.

So, it's quite it's quite useful to to always

have reference for this Green Arrow and

gonna remove the filter for now.

And you'll see when whenever an event is going to be released.

You'll see here this green icon here next to the detail

file folder.

And that

basically whenever is the time of the of the release

you can update it,

but right now we don't were not so close to the economic event.

So

that's why it doesn't appear but make sure that whenever this.

Green update button appears

make sure to press it if you are tracking a specific release.

So you get the the actual data refreshed in your browser.

All right, so that's how the Forex Factory Calendar works.

If you have any questions,

feel free to post them below

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for more videos on Forex Trading until next time.

Happy Trading