The foreign exchange market is completely an electronic market, and no Central Bank regulates its operation. With the spread and development of internet, forex has gained popularity and has been in operation for over two decades now. In 2016, even brokers have come online, replacing the age-old telephonic order placement. The market has evolved and has become more complex and dealing with pairs like AUD/USD requires that much amount of market research. Hence, AUD forecast 2016 is of primary importance.
Forecasting is the technique of predicting the future market behaviour based on some available tools and historical data. This enables a trader to get an idea about the market condition and place a timely order. With proper forecasting, a trader can make use of a bearish market as well and generate profit.
Sources of AUD forecast 2016
In this age, it is needless to mention that the best source is the internet. But a trader must know where to look, which ones are reliable and must not get lost in the sea of information available. Reliable and accurate data on AUD forecast 2016can be obtained from the following sources:
- Few trustworthy and top rated websitesprovide real-time AUD/USD market quote and timely updates on the same. They also provide candlestick charts along with sentiments and predictions of the market.
- Your broker can also be a reliable source. To compete in the market, they provide a host of services, one of them being market forecast to their clients. They have the tools necessary to accurately predict the market and provide you with timely AUD to USD forecast 2016.
- Market predictions along with trading strategies can be obtained from forex forums. Here, experts put in their advices and predictions about how the AUD/USD is expected to behave and share their opinion. Main advantages of these forums are that you will have access to multiple devices and base your decision on all of them.
No matter which source you go for, make sure they provide accurate market data. The way to judge this is going for other user’s reviews. Customer satisfaction is the best way to judge the service of these sites.
Benefits of AUD to USD forecast 2016
Every financial market requires a considerable amount of research before investment. Proper forecasting enables you to take advantage of any market situation. Find out how you may benefit from AUD/USD forecasting:
- AUD to USD forecast 2015 may have told you that AUD is likely to see an increase in valuation. But recently, China has reduced its imports rates and the South-China Sea issue may affect AUD. Hence, a 2016 forecast is necessary before transacting with AUD.
- Also, if the market is bearish, it doesn’t mean you overlook this currency altogether. You can take advantage of this and buy more AUD to gain profit when the market rises again.
- AUD/USD forecasting may also tell you that Australia’s GDP growth is likely to increase. So, if you decide to go with the carry trade option instead of asimple exchange of currencies, you may benefit as well.
So, just because you had done a thorough AUD to USD forecast 2015, does not mean that the work is over. Forex market changes every second and forecasting is necessary even when you are not thinking of trading. Find a reliable source and make use of technology to increase your returns.
Happy forecasting and trading!
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.