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 edged higher this week, reaching a high of 1.1927 and settling a few pips below the 1.1900 figure. The upbeat US employment report released last Friday was the main catalyst for the broad dollar weakness.
The dollar has won the "ugly contest" with the pound – profit-taking and vaccine issues have weighed on the pound more than Fed-related vulnerability has hurt the greenback.
Bitcoin Weekly Forecast: SEC commissioner cozies up to BTC ETF, on-chain metrics reset making way for volatile move
Bitcoin’s mainstream adoption has soared over the last couple of months, with institutions like Visa, Goldman Sachs, Morgan Stanley, and others dipping their toes in the BTC markets. Likewise, prices look primed to advance further despite the ongoing consolidation phase.
After finishing at a 12-month high last Wednesday at 110.71 and nearly matching it on Monday at 110.68, the USD/JPY followed US Treasury rates lower for most of the week ending at 109.33 on Thursday.
The AUD/USD pair finishes a second consecutive week pretty much unchanged around the 0.7650 level. The commodity-linked currency has remained away from investors radar this week, although it’s quite notable that with the broad greenback’s weakness and record levels in Wall Street, the pair was unable to advance.
The XAU/USD pair stayed stuck in a tight range at the start of the week as the thin trading conditions due to Easter Monday allowed financial markets to remain calm.
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|