How do you interpret the news page in forex factory?

Hi guys

It may sound like a bit of a newb question but i really dont know how to interpret the news section of FF. (under the calendar tab)

Several ways i might read it:
Impact- red, yellow green,
previous, forecast and actual?

So lets say today: actual forecast previous
2:45am EUR http://www.forexfactory.com/images/m...act_medium.gif French Industrial Production m/m
http://www.forexfactory.com/images/m...etail_star.gif -2.6%
-0.5% 1.5%http://www.forexfactory.com/images/m...us_revised.gif

So its worse than the forecast adn the previous? would this have an implication that the price value of eur might go down?

I guess you would have to take us news into accoutn?
like:
10:35am USD http://www.forexfactory.com/images/m...act_medium.gif Crude Oil Inventories
http://www.forexfactory.com/images/m...etail_star.gif -5.9M
-1.5M -2.0M
so the actual is worse than the forcast but also worse than previous?

So i would interpret this as saying eur is weak, but USD is really weak so this might be taken as support that long eur/usd might be a good idea?

Sorry I did some searches and could'nt find like an idiots guide to the "so what" of the calendar/news tabs

Have you clicked on the 'detail' icon? The one after the report name.

It doesn't matter if it is up or down. The charts will tell you which way to trade (AFTER the news is out!). This coming week (Mon Jul 14) there is much red and orange. That means there is much money to be made if you watch your charts and stay focused. Sometimes even a barely yellow will give a good move (like Germany Trade Balance or something - hey, no flaming from the Europeans here). This last week we had G-8, Bernanke, Congress, Paulson, and everyone else talking about the dollar and the energy crisis. I think they confused the market more than anything. Next week should be exciting.