Hey inad07,
I have been trading Forex for a little while now and will say with a resounding conclusion that the answer is no. Return on your charts and select any major news event, let us say the NFP. Pick one USD pair, and drop down into the 15 minute chart (or better yet the 1 minute chart). Now, go back in time and search up NFP results, and see whether they correlate with price movement. You'll find they don't. Occasionally they do, and sometimes they do not. The results you'll find are inconclusive. Try it with some other news report and some other pair. Make an experiment out of it (listing your results and take a lot of information).
The reason that is true is because the news is a market maker. What exactly does that mean? The big traders who really control the markets know where they wish to move the markets. Imagine if these huge traders wish to reduce prices but favorable news is published? Good! They'll sell all of the shares which folks are buying, getting better prices before moving price. Imagine if large traders wish to increase prices and favorable news is published? Good! They can move up prices and start cashing out on shares. It took me years to understand that news really isn't news, but it had been one of the very important conclusions I came to.
If you don't believe me that is fine. I urge you no matter visit your charts and see for yourself if the news is tradable. Never assume peoples' word when it comes to Forex. Confirm everything by yourself and search for true comprehension. That is the only way to become profitable in the company.
Greatest,
Forex Zen