Everyday, you need to look at what news releases are coming out. Never ever ever be in a trade when a news release comes out! Know one knows how all the other buyers and sellers in the market will react. Prices tend to be very erratic and can go way up or way down. That's not good if you're in a trade.
To take a look at the news releases you can go here:
It is updated everyday. It will tell you what currency pair has news coming out and how important the news is. The darker the color, the bigger the news, thus the more likely the prices will be erratic. The colors are yellow, orange and red. After a news release, give that currency pair about an hour to calm down. Things will be back to normal then and you can go on and trade. If you have a demo account, sometimes it's interesting just to watch when the news release comes out.