The Forex Forecast is a currency sentiment tool that highlights our selected experts' near and medium term mood and calculates trends according to Friday's 15:00 GMT price. The #FXpoll is not to be taken as signal or as final target, but as an exchange rates heat map of where sentiment and expectations are going.
The EUR/USD pair trades at fresh monthly lows around the 1.2100 level and with increased bearish potential. Investors read past upwardly revised US inflation figures, which hit 5% YoY in May, accelerating at the fastest pace since 2008.
GBP/USD has overcome Brexit and reopening fears to hold its ground. The Fed decision, UK reopening and top-tier British economic figures promise action. Mid-June's daily chart shows that bulls are ahead.
Bitcoin Weekly Forecast: BTC goes through range of emotions, from legal tender to Chinese miners exodus
Bitcoin price rallied wildly on the news of it becoming legal tender in El Salvador, but China’s clampdown on miners was equally palpable. BTC seems to be taking a breather before its uptrend resumes.
US May inflation at 5% has small impact on the dollar. Treasury rates fall as markets expect no Fed action. Unless the June FOMC changes course, summer consolidation is here. FXStreet Forecast Poll shows the lack of direction in USD/JPY
The AUD/USD pair changes hands at around 0.7690, mute for a third consecutive week. The pair has been ranging since mid-April, bottoming at 0.7645 on June 4 and topping at 0.7890 on May 10.
Gold closed the second straight week in the negative territory. XAU/USD is testing the 2-month-old ascending trend line. Next significant support for gold is located at $1,840. Gold spent the first half of the week trading in a relatively tight range as buyers could not hold the price above $1,900.
WHAT IS THE FOREX FORECAST POLL?
The Forex Forecast Poll is a sentiment tool that highlights near- and medium-term price expectations from leading market experts.
- Unique sentiment indicator with a 5-year history
- For 10 currency pairs (EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, NZDUSD, USDCAD, GBPJPY, EURJPY, EURGBP)
- Survey conducted every Friday and published at 15:00 GMT
- Serves all time horizons: 1 week, 1 month, 1 quarter - includes an average price for each time horizon
- Followed by traders, market commentators as well as academics
The #FXpoll is not to be taken as signal or as final target, but as an exchange rates heat map of where sentiment and expectations are going.
HOW TO READ THE GRAPHS?
Besides the table with all participants’ individual prediction, a graphic representation aggregates and visualizes the data: the Bullish/Bearish/Sideways line shows the percentage of our contributors on each of these outlook biases.
This graph is available for each time horizon (1 week, 1 month, 1 quarter). We also indicate the average price forecast as well as the average bias.
WHY SHOULD I USE IT?
Our unique Forex Forecast poll offers you:
- A sentiment indicator which delivers actionable price levels, not merely “mood” or “positioning” indications. Traders can check if there is unanimity among the surveyed experts - if there is excessive speculator sentiment driving a market - or if there are divergences among them. When sentiment is not at extremes, traders get actionable price targets to trade upon. When there is deviation between actual market rate and value reflected in forecasted rate, there is usually an opportunity to enter the market.
- No lag in the data: Contrary to other indicators, there is no delay.
- A very useful tool to combine with other types of analysis of technical nature or based on fundamental macro data, like trading positions, rates table or live chart.
- Significant sentiment data, based on a representative sample of 25 to 50 leading trading advisors for 5 years. Do not follow a single guru but rather a balanced group of well chosen experts. The Forex Forecast Poll offers a condensed version of several expert's opinions. Only outlooks are considered that have been committed to publication and therefore have an influence on the market.
- A tool for Contrarian thinking: People instinctively follow the impulses of the crowd. Sentiment indicators, in turn, lead to “contrarian” thinking. You can read sentiment extremes and avoid being one of the herd. Contrast own opinions and price outlook with a group of leading trading advisors and money managers.
- A tool to build strategies upon prediction data: Find patterns data for instance if a trend is gaining or losing energy.
|EUR/USD Forecast||GBP/USD Forecast||USD/JPY Forecast||AUD/USD Forecast|
|USD/CAD Forecast||GBP/JPY Forecast||NZD/USD Forecast||EUR/JPY Forecast|