The IQ Option platform hides a number of functionalities that make a trader's everyday life easier. Today we will tell you how to read economic calendars on IQ Option. The creators of the platform have made sure that the terminal gives easy access to valuable content from the financial world.
How to read economic calendars on IQ Option
At IQ Option trading platform calendars are located in the market analysis section on the left-hand side panel. You can use a News (1), Economic calendar (2) and Earnings calendar (3).
News in IQ Option Market Analysis section
The News section is a typical press release. IQ Option scans the web for valuable news using its algorithms. Here you will find the latest aggregated data on all asset classes available at IQ Option.
A large amount of news is related to the movements of major financial institutions and their current analyses of individual markets. Many articles are dedicated to the currency market. You will find full analyses of major currency pairs, indications of technical price levels and interesting macroeconomic analyses.
Previously, there was a cryptocurrency calendar section on the platform. News from the crypto world has been included in the main news section. Also, an addition here is information related to cryptocurrencies and blockchain technology.
Let's study the structure of the Economic calendar. When you open it you will see a list of economic reports. The country releasing the report is indicated by a flag. Choose a report by clicking its name.
In the new tab that opens you will see the release date and the period it covers. Just below it, you can see three values: currently, forecast and previous.
Currently means the actual reading. It appears at the time of the release. If a report has not been released yet this field is empty. The forecast reflects the average of analyst predictions before the news release.
Previous is the value published in the previous release. Each event is accompanied by the volatility index which may be low medium or high. This index shows how much the report can influence the volatility of the asset or assets listed below.
By clicking the settings icon above you can filter releases by volatility impact, country or category. The general rule for reading the forex calendar is the following: if the actual reading is better than the forecast the currency appreciates.
If it's worse than the forecast the currency depreciates. However such indicators as unemployment claims and unemployment rate influenced the currency in question in a better way. If they are lower than the forecast.
Now let's take a look at the earnings calendar. The earnings calendar shows the EPS of companies whose stocks are traded on IQ Option platform. EPS stands for earnings per share. It's one of the main indicators published by companies when they file financial reports.
The calendar shows three values of a company's EPS: current, forecast and previous. If the EPS is better than the estimate the stock price will move higher. If the EPS meets the estimate the stock price will most likely not move.
If the EPS is lower than the estimate the stock price will fall. The previous values are usually less important than the forecast. The market reaction will be stronger if the difference between the forecast and the actual earnings is large.
How to trade the news?
Most trading platforms at options brokers have fairly poor economic calendars. I can confidently say that IQ Option has the best economic calendar in the industry. It is very well structured and it is easy to access different information that relates to the markets I trade on.
News and macroeconomic reports are important in making trading decisions. However, I would like to remind you that when important reports are published, such as unemployment data, they can stir up the market quite a lot. During the publication of important data I personally prefer to stay out of the market, i.e. without open positions. High volatility can quickly empty your trading account if you do not close your transactions on time. Therefore, it is worth knowing what and how individual assets are affected, but it is better to refrain from trading during the announcement of important macroeconomic indicators.
You already know how to read economic calendars at IQ Option. Log on to the platform and check what is happening in the world of financial markets.
We wish you successful trading.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose
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