Quote from oldtime:
well it's not too sophisticated, but most forex news happens in the middle of the night USA time. I just keep bloomberg tv on in the background. It's too slow to trade off of, but they pride themselves in being the first to tell you the news, and it will explain that big candle on the chart.
I also don't trade news, but that economic calendar is something to keep in mind if you have a large profit, or a large loss you are concerned about.
You can always take it off before and put it back on after.
I doubt very seriously that any small retail trader can trade news. But if you just want to know what the hell happened, bloomberg or cnbw is as good as anything.