The most effective tools of forecasting used by Forex traders in Belarus are news of global economic, information from online webinars, technical analysis, as well as an economic calendar. Thanks to them, financial analysts get opportunity to recreate overall picture, clearly showing general trend and promising assets for investments. Importance of a competent assessment of the OTC market is explained by the fact that market relations at this stage become more predictable. Modern analytical reviews based on processes in which traded currency pairs are involved help to make correct forecasting of quotes movement. Herewith, an important role is played by:
- exchange rate on current date;
- technical summary;
- fractal and wave analysis;
- fundamental monitoring of trends.
One-way forecasting allows one to make a general idea of current trends on Forex, however, making investment decisions solely on basis of these indicators is impractical.
Analytical data is an important component of a profitable investment. The following should be used as an information base:
- review of worldwide economic events;
- assessment of current situation;
- comparison of different opinions of specialists;
- previous erroneous actions.
If one correctly take into account economic events, one can assume how a currency and its rate will behave, while a forecast can be used both in a long term and for making short-term decisions. To avoid losses associated with rash investments, a trader needs to objectively evaluate all information received and apply it when opening an order. Information resources should be monitored continuously. A trader’s own picture of regularities will be correct only if during its formation technical indicators and research results of specialists will be timely taken into account.