There are several sites that will be able to provide you the different reviews regarding the weekly forecast of forex but most of all, the AUDUSD Weekly Forex Forecast is considered as one of the most reliable sources on the Internet today.
How to Read the AUDUSD Weekly Forex Forecast?
Basically, the AUDUSD Weekly Forex Forecast is just a chart that is capable of providing information regarding the average forecast prices, as well as the nearness or farness of the numbers from the participants surveyed that week. Usually, a bigger bubble would denote that the chart has more participants are able to target a particular price level during that time interval. In addition, the distribution also denotes the disparity and the unanimity among the involved participants.
But how reliable is this distribution? Basically, this is considered as one of the most reliable distribution since it is capable of providing some information such as minimum value, maximum value, average value, price change, shifted price, and smooth average.
The average primarily displays the median, mean, and mode which are considered as the three central tendencies of measures. With these averages, you will be able to know whether there is a presence of an outlier among the involved participants. The smooth average, on the other hand, is the smooth graphical interpretation that eliminates the noises due to the presence of outliers. Although it is also an arithmetical average of the mean, mode, and median.
The minimum and maximum values represent the price corridor and would usually envelop the upper and lower value of the weekly close price. In addition, it also measures the volatility of the distribution.
The bias denotes as the distribution’s bearish, bullish, and sideways forecast prices hat primarily explains the sentiment extremes and the indecisiveness of the participants that were reflective in the form of sideways numbers.