VantagePoint Forex Weekly Outlook for December 10th, 2018

VantagePoint Forex Weekly Outlook for December 10th, 2018

Forex Weekly Outlook for December 10th, 2018

The Forex Weekly Outlook is designed to help traders remain aware of correlations in the global markets. Traders can become more profitable if they know how to get ahead of the trends. Utilizing the predictive indicators and correlated relationships in VantagePoint Software can help traders find the right trades and the right times to enter and exit those trades. Let’s look at the charts for the U.S. Dollar and the major pairs.

Forex and the U.S. Dollar

The U.S. Dollar Index is the backbone of forex trading. The bulk of the trades involves buying or selling the U.S. dollar. Understanding the movements of the individual market will greatly benefit forex traders as they will be able to better predict the movements of the pairs based on the IDX market movement.

Key levels and market movements:

Coming off the non-farm payroll number, the Dollar is holding steady. But there is now talk on whether the US is going into a recession or not based around comments from the FED. And there is continued resistance around the 97.20 area.

What do the indicators say?

The VantagePoint key level is at 96.199 and the VantagePoint PRSI is at 33.3.

Forex Weekly Outlook for Major Pairs

The major pairs are where most Forex traders trade the market. In the Forex Weekly Outlook we take a look at the most popular. We analyze price action, news events and/or risk off scenarios that could play a role in market movement. And a series of VantagePoint charts that best present information that can assist traders in determining where the market may move in the week ahead.

Euro/U.S. Dollar (EUR/USD)

What do the indicators say?

The VantagePoint key level is at 1.1360 and the VantagePoint PRSI is at 70.0.

U.S. Dollar/Swiss Franc (USD/CHF)

What do the indicators say?

The VantagePoint key level is at 0.9957 and the VantagePoint PRSI is at 23.3.

British Pound/U.S. Dollar (GBP/USD)

What do the indicators say?

The VantagePoint key level is at 1.2802 and the VantagePoint PRSI is at 32.5.

U.S. Dollar/Japanese Yen (USD/JPY)

What do the indicators say?

The VantagePoint key level is at 113.25 and the VantagePoint PRSI is at 27.0.

The Commodities Currencies

U.S. Dollar/Canadian Dollar (USD/CAD)

What do the indicators say?

The VantagePoint key level is at 1.3260 and the VantagePoint PRSI is at 57.1.

Australian Dollar/U.S. Dollar (AUD/USD)

What do the indicators say?

The VantagePoint key level is at 0.7257 and the VantagePoint PRSI is at 24.1.

New Zealand Dollar/U.S. Dollar (NZD/USD)

What do the indicators say?

The VantagePoint key level is at 0.6834 and the VantagePoint PRSI is at 39.1.

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