How to predict the currency rates on Forex

Use technical analysis for forecasting exchange rates in the Forex market. This analysis is based on the assertion that the present situation already existed. Determine at the beginning of the trend or the trend movements of the exchange rate. Recognize the graphs of the trend line: the line of resistance and support. Depending on how these lines are located relative to each other, the trend may be upward, downward or lateral.

After determining the trend movement for this currency pair, start looking classic figures. These figures are described in many textbooks and the literature on the subject of Forex. One of them point to the continuation of the trend, and the second on his turn. Correct identification of the figure on the chart Forex, you can predict courses currency for profit.

Use fundamental analysis of the Forex market. This method of forecasting the exchange rate based on consideration of political, financial and economic indicators in a certain state affecting the condition of a currency.

Watch for the release not only of economic and political news, but with the emergence of various force-majeure circumstances such as natural disasters. If the Deposit rates of the national Bank are going to increase, the economy is recovering or is the infusion of investment funds, soon we can expect the growth rate of the respective currency.

Follow the situation on the currency market as a whole. Analyze the graphs of the exchange rate of such currencies as US dollar, Japanese yen, Euro, British pound and Swiss franc. These are the main currency in the Forex market, and each of them has its own impact on the others. Analyze the moment, it will help you to predict possible dramatic changes in the charts of the exchange rate.

Use the services of different analytical sites, and programs that help in forecasting currency exchange rates Forex.