In short, Forex tracking allows traders to make informed decisions by monitoring market trends, news, as well as their own trading performance.

Forex tracking involves more than just observing real-time currency prices.

It involves a broad approach to analyzing a variety of factors that influence the forex market including:

  • Central bank announcements and interest rates
  • Economic indicators and trends including inflation
  • The trade balance – exports vs imports
  • Political events and political climate
  • Outstanding debt – both government and public
  • Plus other factors that impact the global economy

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