Forex Weekly Outlook for December 17th, 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:

With the much-anticipated FOMC announcement happening this week, it’s going to be choppy in the forex markets, including with the US Dollar. After the announcement, traders should expect some volatile moves. Right now, the Dollar is mildly bullish, but that’s more of a risk off scenario.

What do the indicators say?

The VantagePoint key level is at 96.424 and the VantagePoint PRSI is at 75.6.

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 1.1351 and the VantagePoint PRSI is at 27.2.

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

What do the indicators say?

The VantagePoint key level is at 0.9960 and the VantagePoint PRSI is at 73.8.

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

What do the indicators say?

The VantagePoint key level is at 1.2715 and the VantagePoint PRSI is at 35.8.

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

What do the indicators say?

The VantagePoint key level is at 113.34 and the VantagePoint PRSI is at 59.8.

The Commodities Currencies

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

What do the indicators say?

The VantagePoint key level is at 1.3313 and the VantagePoint PRSI is at 65.1.

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

What do the indicators say?

The VantagePoint key level is at 0.7232 and the VantagePoint PRSI is at 24.2.

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

What do the indicators say?

The VantagePoint key level is at 0.6841and the VantagePoint PRSI is at 18.5.

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