In the context of the ongoing threat of another wave of economic crisis, information on the behavior of major exchange rates can be a good tool for making financial decisions. Knowing what the ratio of currencies will look like in the near future or in the long term makes it possible to convert part of your savings in a timely manner.
Instructions
Step 1
First of all, clearly understand that with the modern development of economic science, an accurate long-term forecast of the behavior of a particular exchange rate is, in principle, impossible. Fluctuations in the market are non-linear and subject to the influence of many factors, which cannot be fully taken into account not only by humans, but also by modern computer technology. Therefore, any forecast is made with varying degrees of probability.
Step 2
Determine the goals for which you want to get a forecast. It may be necessary to make a decision to transfer part of the savings into a certain currency, counting on its growth. Another option is the implementation of short-term speculative operations in the interbank foreign exchange market Forex. Forecasting methods for different cases will differ significantly.
Step 3
To find out the forecast of the exchange rates of the American and European currencies against the ruble, use the data provided by the Central Bank of Russia. You can familiarize yourself with such forecasts and evaluate their reliability, for example, on the website of the Finmarket news agency: https://www.finmarket.ru/ in the Currency section. There is also a convenient currency converter.
Step 4
To get acquainted with the forecasts of changes in the rates of other currencies, do a small information search. The resources of many financial institutions have corresponding sections, which provide analytical reviews designed to help traders in making money management decisions.
Step 5
As an example, check out the analytics of the Forex Club Group of Companies: https://www.fxclub.org/ (section "Analytics of World Financial Markets"). The company also issues “paper” brochures describing the annual forecast for the main currency pairs traded on the market. You can freely obtain such publications at any regional office of the Forex Club company.
Step 6
If the goal of the forecast you require is professional trading in the foreign exchange market, please be patient and start studying the basic types of financial analysis on your own. This can be done independently - using tutorials, or in the mode of participation in webinars, which are regularly held by large financial companies. During the training, you will gain experience in fundamental and technical market analysis, which will allow you to be less dependent on the very loose and often contradictory forecasts offered by analysts.
