VantagePoint Forex Weekly Outlook for the Week of January 21st, 2019
The VantagePoint Forex Weekly Outlook is designed to help traders. It’s important to 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 in VantagePoint Software can help traders find the right trades and the right times. Above all, traders know when to enter and exit those trades for maximum profit. 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:
The Dollar is finding support off of the October 2018 lows. But the problem remains with a huge area of resistance sitting at the 97.30 level. However, with no rate hikes in the near future, it’s quite possible that the dollar will continue to rise to the known area of resistance (then likely fail).
What do the indicators say?
The VantagePoint key level is at 95.703. In addition, the VantagePoint PRSI is at 76.9.
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, therefore helping Forex Traders. We analyze price action, as well as news events and/or risk off scenarios. All those play a role in market movement. VantagePoint Software reviews the Forex Weekly Outlook each Monday.
Euro/U.S. Dollar (EUR/USD)
What do the indicators say?
The VantagePoint key level is at 1.1419. In addition, the VantagePoint PRSI is at 23.0.
U.S. Dollar/Swiss Franc (USD/CHF)
What do the indicators say?
The VantagePoint key level is at 0.9876. In addition, the VantagePoint PRSI is at 76.4.
British Pound/U.S. Dollar (GBP/USD)
What do the indicators say?
The VantagePoint key level is at 1.2885. In addition, the VantagePoint PRSI is at 59.9.
U.S. Dollar/Japanese Yen (USD/JPY)
What do the indicators say?
The VantagePoint key level is at 109.40. In addition, the VantagePoint PRSI is at 33.5.
The Commodities Currencies
U.S. Dollar/Canadian Dollar (USD/CAD)
What do the indicators say?
The VantagePoint key level is at 1.3274. In addition, the VantagePoint PRSI is at 27.6.
Australian Dollar/U.S. Dollar (AUD/USD)
What do the indicators say?
The VantagePoint key level is at 0.7157. In addition, the VantagePoint PRSI is at 41.6.
New Zealand Dollar/U.S. Dollar (NZD/USD)
What do the indicators say?
The VantagePoint key level is at 0.6768. In addition, VantagePoint PRSI is at 34.9.
