Forex forecast 07/01/2024: EUR/USD, USD/JPY, Gold 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

00:23 Totay's key events: HCOB Germany Manufacturing PMI, S&P Global/CIPS UK Manufacturing PMI, German CPI, ISM Manufacturing PMI, Tankan Large Manufacturers Index, European Central Bank Non-monetary Policy Meeting

02:47 EUR/USD

05:32 USD/JPY

08:09 GOLD

10:06 BTC/USD

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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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