16.05.202410:26 Trade Analysis & Reviews: Forex forecast 05/16/2024: EUR/USD, GBP/USD, USD/JPY, USDX and Bitcoin from Sebastian Seliga

We introduce you to the daily updated section of Forex analytics where you will find reviews from forex experts, up-to-date monitoring of financial information as well as online forecasts of exchange rates of the US dollar, euro, ruble, bitcoin, and other currencies for today, tomorrow and this trading week.

Video Agenda:

00:00 INTRO

00:14 Today's key events: GDP, Employment Change, Industrial Production, German Buba Mauderer Speaks, Building Permits, Philadelphia Fed Manufacturing Index, Initial Jobless Claims

02:44 EUR/USD

04:18 USD/JPY

06:00 GBP/USD

07:28 USDX

09:00 BTC/USD

Useful links:

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Important:

The begginers in forex trading need to be very careful when making decisions about entering the market. Before the release of important reports, it is best to stay out of the market to avoid being caught in sharp market fluctuations due to increased volatility. If you decide to trade during the news release, then always place stop orders to minimize losses.

Without placing stop orders, you can very quickly lose your entire deposit, especially if you do not use money management and trade large volumes. For successful trading, you need to have a clear trading plan and stay focues and disciplined. Spontaneous trading decision based on the current market situation is an inherently losing strategy for a scalper or daytrader.

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