The exchange rate is the price of a monetary unit of one country, expressed in monetary units of another. There are many such courses at the same time - one for each pair of monetary units available in the world. The change in the price of one currency relative to another is caused by a large number of factors that take into account the economic and political prospects of the countries whose monetary units are being compared. A fairly large number of people, both amateurs and professionals, are engaged in forecasting these changes.
Instructions
Step 1
You can find out the general trends in changes in exchange rates from analytical programs devoted to financial issues on specialized TV channels. Perhaps the most famous of them in Russia is RBC. In the programs of this transmission channel, from which you can find out the forecasts of rates, they begin with the word "Markets" - "Markets. Global View”,“Markets: Week Results”, etc. - look for the time of the airing of these TV programs, for example, on the website of the TV channel.
Step 2
But if you have access to the Internet, the easiest way to find out forecasts of exchange rates is to visit specially dedicated pages of sites devoted to currency topics. For serious Internet resources, such forecasts are made by specialists in this field, based mainly on a fundamental analysis of the economic situation in the world. On the net you can find such forecasts for the rates of the central bank or for the Forex market. A link to one of these resources that publishes forecasts of the Central Bank of the Russian Federation for the next day, week, month, quarter is given below.
Step 3
The website of RosBusinessConsulting, which also owns the RBC TV channel, has a whole section devoted to forecasts of exchange rates, as well as prices for raw materials, precious metals and stocks. In this section, you can subscribe and get access to a dedicated terminal. It provides a maximum of information on the expected short and long-term changes in the rates of more than fifty currency pairs, according to the forecasts of Russian and foreign banks. A link to this section of the RBC website is also listed under the article.
Step 4
For trading on the Forex market, broker companies provide everyone with online terminals - this is a specialized application installed on a computer. Changes in the rates of currency pairs for the past periods are presented in it in the form of graphs. There are methods of forecasting rates on such charts - in contrast to the analysis of economic trends (fundamental analysis), they are called technical analysis. You can install a demo version of such a terminal on your computer, select one or several such systems on the web forums dedicated to Forex trading, and install a set of corresponding indicators in the terminal. This will make it possible to use it both as a source of forecasts and as a tool for deriving profit from them. If, of course, the forecasts are correct.
