SYDNEY, July 11, 2012 /PRNewswire/ --
The forex market is one of the most liquid and fast moving in the world, making it an attractive choice for active traders.
Short-term trading opportunities
Kara Ordway, FX Strategist at City Index Australia says, "Given the uncertainties in almost all parts of the globe, we are currently seeing lot of movements in the currency markets."
She says the ongoing market volatility creates opportunities particularly for those wanting to take short-term trades.
Trading around economic announcements
One of the most common strategies for forex traders is to trade around major news events and economic announcements. For example, the Reserve Bank of Australia (RBA) issues a decision on interest rate levels every first Tuesday of each month.
Many forex traders take advantage of this announcement by going either long or short the Aussie dollar. This could be a profitable short-term trading strategy if you make the right call on the decision.
The non-farm payroll number in the US is another major economic data being monitored by FX traders as it could have an immediate impact on the direction of currencies.
Trading Forex with City Index Australia
With City Index Australia, you could stay on top of major economic data and announcements that could be useful for your forex trading.
The online trading platform features an economic calendar that outlines major dates and events that could move markets.
Both institutional and private retail traders keep an eye on these major dates and announcements for short-term trading opportunities.
Whether you want to capture some short-term trades or to learn more how to trade around major economic data, using the City Index trading platform could be a good starting point.
However, bear in mind that FX trading is leveraged trading and could magnify your wins and your losses.
About City Index:
Today more and more individual traders are discovering the benefits of derivatives, and many of them are discovering them through a City Index trading platform.
City Index is a leading global provider of margined foreign exchange and CFD trading. As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide. To learn more visit: http://www.cityindex.com.au/
SOURCE City Index Australia