Foreign Exchange Forecasting Can Be Either Long-Term, or Short-Term in Duration

question 12

Essay

Foreign exchange forecasting can be either long-term, or short-term in duration. Compare and contrast the motivation for and the techniques a forecaster might use for each of the time periods.

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Definitions:

Extrinsic Motivation

Motivation fueled by external rewards, such as money, fame, grades, or praise, rather than by intrinsic rewards, like personal satisfaction.

Social Motivation

The drive to engage in activities or behaviors based on social factors, such as the need for approval, belonging, or conformity to group norms.

Achievement Motivation

The drive or desire within an individual to set and accomplish challenging goals, surpass standards of excellence, and persist in the face of obstacles.

Fear Motivation

The driving force behind actions that aim to avoid negative outcomes or dangers.