Forex Weekly Outlook for June 18th, 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:
The US Dollar is wreaking havoc across the equity markets and several different currency pairs. There is a significant area of resistance around the 95 area. And the PRSI is showing a slight lack of momentum.
What do the indicators say?
The VantagePoint key level is at 93.522 and the VantagePoint PRSI is at 76.0.
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 pairs analyzing 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 1.1721 and the VantagePoint PRSI is at 22.4.
U.S. Dollar/Swiss Franc (USD/CHF)
What do the indicators say?
The VantagePoint key level is at 0.9892 and the VantagePoint PRSI is at 86.5.
British Pound/U.S. Dollar (GBP/USD)
What do the indicators say?
The VantagePoint key level is at 1.3377 and the VantagePoint PRSI is at 27.9.
U.S. Dollar/Japanese Yen (USD/JPY)
What do the indicators say?
The VantagePoint key level is at 110.01 and the VantagePoint PRSI is at 75.4.
The Commodities Currencies
U.S. Dollar/Canadian Dollar (USD/CAD)
What do the indicators say?
The VantagePoint key level is at 1.2978 and the VantagePoint PRSI is at 87.3.
Australian Dollar/U.S. Dollar (AUD/USD)
What do the indicators say?
The VantagePoint key level is at 0.7576 and the VantagePoint PRSI is at 40.8.
New Zealand Dollar/U.S. Dollar (NZD/USD)
What do the indicators say?
The VantagePoint key level is at 0.6992 and the VantagePoint PRSI is at 14.9.