Any successful trade on the market starts with studying various information. To correctly decide on the opening or closing of a position, it is necessary to understand the current market situation and be able to anticipate future price movements. That’s why traders explore recent financial news and analyze price dynamics and trading volumes, etc. This is how they do it on the Binomo trading platform.
The market analysis begins with studying current events, as some economic and political news can significantly affect the prices of assets. For instance, the election of Donald Trump as the US president was accompanied by large movements of USD and the Mexican peso. Another example is when there is a weakening of the American dollar, which often leads to active purchases of gold. Traders can also watch specific areas, as industrial output, employment, and the number of new orders hold great importance for silver and other commodities.
You can track such news using the economic calendar on Binomo. There you will find information on upcoming and past events, short descriptions of them, and what assets they may affect.
After evaluating the fundamental factors, traders can proceed to technical analysis. Different tools and methods are used to evaluate the current asset market conditions. For example, you can identify trend lines or build support and resistance charts — the minimum and maximum price levels. More advanced traders will analyze the charts using different indicators — RSI, MACD, Moving Average, etc.
These tools make it possible to predict future market movements more efficiently and the user-friendly Binomo interface helps us plot the indicators we want to use instantly. You can configure all the parameters you need and display them directly on the price chart.
As soon as you get a general vision of what’s happening on the market, you can start trading. You need to create a specific plan of action depending on the current conditions. The trader can build a strategy or use any of the ones available on Binomo. They are presented as step-by-step tutorials, so even a beginner can figure out what to do.
Binomo Trading App
Thanks to Binomo, users get access to all the available tools for effective and convenient trading. The platform has already united 10,000,000 traders all over the world, who now enjoy the benefits of modern investing:
- 55+ of the most popular assets;
- Profitability of up to 90% in the event of a correct forecast;
- 24/7 customer support;
- Free Binomo demo account and trading strategies;
- Favorable conditions — $10 is enough to open a real account;
- Special bonuses and events for a more diverse and interesting trading experience.
Sign up on the Binomo website now and enjoy the many trading opportunities offered there.
Disclaimer: Financial operations may involve increased risk. Please evaluate all the financial risks and seek advice from an independent financial advisor before trading.