If you’ve clicked onto this article looking for information on how to tell how and when somebody died, I’ve got bad news for you. That’s called “forensic analysis”, not “forex analysis.” Forex is the art and science of buying and selling foreign currencies. (Forex is short for “utländsk valuta” and is sometimes known as FX trading).
OK, Now That The Forensic Newbies Have Left…
Forex analysis works on basically the same principle as stock market analysis, only it’s about the foreign exchange rates of world currencies than the highs and lows of stock prices. Forex analysis is extremely important to forex traders, helping them make very important (and costly) trading decisions. That being said, forex analysis is an inexact science at best, kind of like meteorology.
Are You Better Off Playing The Ponies?
Quite a lot of forex analysis might remind you of horse racing. dock, there are a lot more things that can go wrong in horse racing than in forex markets. A split second belch from a jockey could change the entire course of the race, while it takes longer for a “belch” (eller “hiccup’) in international affairs to effect the forex market.
Factors that affect forex analysis include natural and man-made disasters, wars, recessions, rate of inflation and whether the country involved has more refugee camps than tourist camps. And, fluctuations in the stock markets around the world will also affect the forex market. Some think the forex market is actually more stable because everybody needs money and not everybody needs a share of GlaxoSmithKline.
There are many different financial forecast services that offer forex analysis, which may remind you a bit of the “tip sheets” hawked around Thoroughbred racetracks by professional gamblers. The only way to tell which forex analysis service to pay attention to is by trail and error.
If you have trusted friends into the forex game, or have access to online chat rooms or forums about forex, you should be able to ask which forex analysis service is most recommended. There are a lot of free services, such as there are free stock market analysis forecasts in the local paper, but forex traders soon get their favorites.
There are many websites devoted to just forex analysis and news, but there are also many general news sites that also give you free forex forecasts. These sites include ABC News, CNN.com, Bloomberg.com and BBC News Review. Hopefully then, your finances won’t need the services of forensic science.
