If you want to learn to manage really effectively the assets and to make work in market FOREX profitable it is possible only in due course. On this theme there are the set of books. I can describe in brief only the basic acceptances of forecasting which are used by traders.

Market Fundamental analysis. Consists in steadfast studying of economy of the countries on which currencies it is possible to trade in market FOREX. The exchange rate is influenced by such factors as a rate of inflation, size of interest rates, a level of unemployment, budgetary deficiency, trading balance, a national income and etc. having carried out the similar analysis, it is possible to draw a conclusion on an economic situation of the countries and consequently about movement of exchange rates. But this method approaches for major banks which prefer to store money in more favorable currency more and aren’t interested in carrying out of frequent speculative operations.

Control of news and forecasts from open sources. It is useful to combine with one of other methods.

Technical analysis. The most widespread method and I will dwell upon it.

The technical analysis

At first sight it can seem that the rate behaves is absolutely unpredictable. Fortunately, the behavior of the market submits to several very simple rules.

The rate considers all — the slogan of the traders concerning group of charters (from English chart — the schedule). Charters take out judgments about a situation in the market exclusively on a basis of the schedule of a rate. After all, all economic, political or psychological factors are already considered by the market.

And it is valid; one stare on the schedule very often happens enough that with high probability to specify where the price will go. The most simple for development and at the same time one of the certain ways of the technical analysis is construction of lines of support and resistance. The support line is under construction on minima of the prices for the certain period, as though “supporting” the schedule from below. The resistance line, on the contrary, is under construction on maxima and “does not start up” a rate upwards.

The schedule represents set of vertical lines — bars. Each bar comprises the information on opening price and closings, the minimum and maximum rates for the certain period. For example, when the bar comprises the information on five minutes say that the schedule “five-minute”. The analysis of lines of support and resistance consists in a choice of the most convenient scale at display of the schedule and, actually, construction of these lines.

At last I want to notice that the technical analysis at all isn’t limited to construction of lines of support and resistance. It only begins with it. I have given an example that you have understood how it is possible to predict change of the prices. And to learn art to predict movement of exchange rates, it is necessary to read set of books or to pass corresponding training. By the way, many dealing companies in search of talents carry out similar training free of charge, than I recommend using. After all the most gifted people open the account on some thousand dollars (usually for this purpose it is required to win in competition of traders).

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