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17 Feb 2014
Flash: EUR/USD bullishness persists – FXStreet
FXStreet (Edinburgh) - In light of the last Currencies Forecast Poll and in the opinion of Goncalo Moreira CMT, FXStreet Technical Analyst, traders expect EUR/USD to remain on the bid side, although some correction lower would expect beyond current levels.
Key Quotes
“The latest data for the Currencies Forecast Poll, released by FXStreet on Friday the 14th, reflects a significant change in the short-term bias: 70% of surveyed participants express a bullish outlook for the EUR/USD accordingly to their targets for the current week. Poll participants, as a group, have not been more than 80'% bullish in this time horizon. Above current levels statistics show there is an increased risk for a short term corrective phase”.
“Other statistics reinforcing this week's typical outcome are the median and the mean which went from 1.34 to above 1.37 in two weeks. Also the mode, which is usually lower than the other two central tendency measures, is now getting closer to 1.37”.
“When asked to look further into the future, poll participants are still dominated by a negative sentiment. Much in line with their usual standings, the mid- and long-term forecasts are skewed for a downside reaction in the euro against the U.S. Dollar”.
Key Quotes
“The latest data for the Currencies Forecast Poll, released by FXStreet on Friday the 14th, reflects a significant change in the short-term bias: 70% of surveyed participants express a bullish outlook for the EUR/USD accordingly to their targets for the current week. Poll participants, as a group, have not been more than 80'% bullish in this time horizon. Above current levels statistics show there is an increased risk for a short term corrective phase”.
“Other statistics reinforcing this week's typical outcome are the median and the mean which went from 1.34 to above 1.37 in two weeks. Also the mode, which is usually lower than the other two central tendency measures, is now getting closer to 1.37”.
“When asked to look further into the future, poll participants are still dominated by a negative sentiment. Much in line with their usual standings, the mid- and long-term forecasts are skewed for a downside reaction in the euro against the U.S. Dollar”.