Trading the news requires advanced skill and experience. The volatility is fast. Get the direction right and you will be rewarded with a fast profit.
Every important "high" news event brings volatility into Forex. This is the time that Smart Money moves price to their next target. From their perspective it makes good business sense-Bloomberg and CNBC will supply a neat and and totally believable explanation for why price jumped 150 pips in 2 hours after "consolidating" in a range for the last 48 hours.
Trading the news is fairly straightforward. You look over the news calender from your favorite Forex website or source and you make note of the high news events you think will move price. Then set alerts so you get notified 30 minutes prior to the news release. That gives you time to check the charts for that currency and decide if you want to take the trade based upon market structure and what the chart is telling you. Add in an "If/Then" scenario as an additional filter and then plot the trade on your chart. About 2 minutes before the news release you initiate the trade.