One way of understanding what the market is feeling is to look at how price reacts to stimuli in the market such as economic data and central bank speeches. On an intraday basis, price is simply too random to predict because price movement is dominated by import and export transactions. During the short window of time surrounding an economic stimulus however, the price is so speculative in nature that it gives vital clues about which direction the market is biased toward and how much conviction it has. This forex trading training video will go over a specific system for identifying the correct bias to put the odds in one’s favor.

From Module 2: “Combining Price Action and Economic Data to Get into the Mind of the Market”