Many binary options brokers read between the lines of a set of numbers usually provided by charts, indicators or signals, and based on these estimations. If you perform a technical analysis of all these indicators in order to get positive results, however if the technical analysis is combined with the fundamental analysis, the effectiveness of the trading strategy is increased to a great extent. Therefore, the combination of technical and fundamental analysis should be the main objective of every trader.
If you are new to this field, then it is recommended that before getting into all the intricacies and complexities of fundamental analysis, one should first try to understand and know how to correctly reach the weekly economic calendar.
Why use the weekly economic calendar?
Those who are used to following the fundamental analysis would be able to read the weekly economical calendar, since both of these are more or less similar to each other. For this reason, binary options traders can easily read the information provided by the broker and the general context.
The weekly economic calendar is considered to be an important tool that is used by traders and the rookies without any hassle. The binary options brokers can provide their own information and analysis along with the report while explaining it to the users. However, just merely listing the events will not prove to be beneficial, instead, one should also rate the events in terms of the importance and then add a small description about it, and ensure that all the data is delivered in a format that is easy to understand and manage.
By using the economical calendar, binary options trading enthusiasts can easily determine the GDPs of US and Euro-zone for every quarter and even determine the prognosis. This will help the traders to estimate the influence of these GDPs on the market with much better accuracy. One should also consider several aspects like consumer sentiment as well as housing market situations in the US, or the Greek debt drama, in order to come to any estimation. This is where the weekly economic calendar comes to your rescue as it will not only prove to be a handy tool in making accurate estimations but will also double up as an informative source to help you trade in the financial market and strengthen your expertise in it over the time.