FXStreet makes Forecast Poll and Trading Positions available as widgets to third parties

Currency news and information services provider FXStreet today announced that it has just made available two of its most famous tools, the Currencies Forecast Poll and the Current Trading Positions, as widgets to third party companies.

The Forecast Poll is a proprietary sentiment tool that highlights near- and medium-term price expectations from 25 to 50 leading market experts, with a 5-year history and for 10 currency pairs. The weekly survey is conducted on Fridays and published at 15:00 GMT. It serves three time horizons (1 week, 1 month and 1 quarter) and includes an average price for each time horizon.

Gonçalo Moreira, Research expert at FXStreet, noted that this tool is particularly useful for so-called “contrarian thinking” strategies. “People involuntarily follow the impulses of the crowd. Sentiment indicators, in turn, lead to “contrarian” thinking. The Forecast Poll helps traders detect sentiment extremes and thereby limit their eventual toxic herd behavior.”

The Current Trading Positions widget offers an insight into a how FXStreet dedicated contributors are currently positioned for 16 currency pairs and gold spot. Trading signals as well as buy/sell interest are aggregated in order to find liquidity clusters. Positions are automatically checked every 15 minutes, updated when a new position is released and deleted from the system when liquidated by market movements.

Gonçalo Moreira commented: “The CTP widget shows how liquidity is distributed along the price scale. Price levels with a lot of orders may act as support and resistance areas. The widget takes into account not only the entry prices but more importantly where participants have their stop losses and take profit levels. These orders are translated into support and resistance levels, as well as acceleration points.”

“These tools have been available on FXStreet for 5 years,” relates Carolina May, CEO of FXStreet. “They have been tested and enhanced throughout those 5 years, to the point it’s a top quality product ready to be sold to third parties.”

“More than this, in fact,” she underlines. “These widgets open up a world of possibilities. Brokers can surprise their clients with many different studies or tools based on the same raw data. The data can be statistically processed in many ways, from distribution, correlation, volatility, to probability studies. And we can help them with that.”

To view the official announcement from FXStreet, click here.

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