There are plenty of websites publishing and forums discussing
about forecast on currency pair’s possible moves. Though some of them make
deliberate method to explain reasons for current situation and possible
reaction for upcoming events but most of them put very complicated, colorful diagrams,
trendlines, moving averages etc. which appears to be sophisticated analysis for
new comers. By which they will try to attract many visitors to their web page
that gives them benefit of revenue generation by advertisements. To name a few
of the websites are Actionforex, Forexmillion, Forexcycle, Forexstreet, etc.
and still many. The only intention of these website is to attract maximum users
and from where the traffic is coming from.
Inexperienced traders who are having less than 2 years of experience,
in the beginning of their career they will try to find what others are talking
about the currency pairs and economic events. They will always keep a watch on those
above mentioned websites. After reading those analysis and predictions they
will have something in their mind it can be some target numbers for e.g. some
predictor says Eurusd will reach so and so levels after the economic events and…