Knowing when to buy currencies depends on careful analysis of the financial markets and your investment goals.
For $BONK and $SHIB the price has corrected and now you can enter with less risk.
1. Fundamental Market Analysis:
Monitor economic and political news.
Check macroeconomic indicators such as inflation, interest rates, and GDP.
Tracks the monetary policy of central banks.
2. Technical analysis:
Use charts to monitor trends and support and resistance points.
Monitor indicators such as moving averages and RSI.
3. Geopolitical events:
Major political and economic events (such as wars or economic crises) affect the value of currencies.
4. Risk appetite versus safety:
Currencies such as the US dollar and the Japanese yen are considered safe haven currencies and increase in value during crises.
Riskier currencies increase in value during periods of economic optimism.
5. Comparing supply and demand:
Currencies linked to certain commodities (such as the Canadian dollar and oil) may be affected by movements in these commodities.
6. Risk Management:
Set a clear budget for the amount you want to invest, and determine the level of loss you can afford.
Don't put all your investment in one asset, and be prepared for sudden changes in the market.
Tip: You can start with Demo Accounts to understand the market dynamics before using real money.
