traders use different tools to trade during news , actually to become successfully during news is a tough game , i generally use Fx Factory economic calendar that supports me much.
Trading on news is very unpredictable. Therefore, you are unlikely to be able to correctly assess the further price behavior in the first 5 minutes after the news release. After these 5 minutes, the price can go anywhere and by an unknown number of points due to increased volatility. It is better not to trade at this time and not to risk your deposit, but to wait until the market calms down and your strategy shows signals for the next trades.
For analyzing FX pair movements post-news releases, platforms like TradingView and Forex Factory can be valuable. They provide historical data and insights on price reactions. Additionally, custom scripts in backtesting software like MetaTrader can enhance your analysis. Combining these tools will strengthen your strategy and risk management approach.
You can use tools like Myfxbook or TradingView, which allow you to track price movements during news events. For detailed analysis, consider using historical data from brokers or platforms offering news event backtesting to measure market reaction over time.