Forex Weekly Outlook for November 27th, 2017

Forex Weekly Outlook for November 27th, 2017

Forex Weekly Outlook for November 27th, 2017

The Forex Weekly Outlook is designed to help traders remain aware of intermarket correlations of global market relationships. You can become more profitable if you know how to get ahead of the trends and understand that these relationships can potentially expand your portfolio. Utilizing the predictive indicators and intermarket relationships in VantagePoint Intermarket 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 Dollar has come under pressure, largely based on comments made by the FOMC regarding inflation. Additionally, this move has happened under oversold conditions. But, taking into account intermarket analysis, traders can look at gold and see that it is flat and holding around the 1290 area. Because of this, the Dollar still can easily recover unless gold moves higher.

What do the indicators say?

The VantagePoint predictive 18-day moving average is at 93.682 and the VantagePoint PRSI is at 21.3.

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 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)

Key Levels and market movement:

There was a big move higher with the ultra-thin markets this past Friday. Looking at the Predictive MACD, it is above the zero line signaling a bigger move might be on the horizon. But traders should take note of the PRSI. Anytime it has moved above the 60 line, the EUR/USD pair has basically sold off and the PRSI is currently sitting at 75.7. A big part of this move higher could have been simply because of the FOMC statement last week.

What do the indicators say?

The predictive 18-day moving average is 1.1747 and the PRSI is at 75.7. The neural index is at a “one” position indicating strength over the next 48 hours.

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

Key Levels and market movement:

The move higher for the EUR/USD pair should contain this pair to the downside as it moves into oversold territory. But if the VantagePoint Predictive MACD can break below the zero line, that would trigger a longer-term trend to the downside. The main trigger for this would be for gold to move higher.

What do the indicators say?

The PRSI is a 22.9 and the predictive 18-day moving average is at .9887. The neural index is at a “zero” position indicating the potential for short-term weakness.

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

Key Levels and market movement:

The pair keeps stalling at the 1.3350 area. Additionally, the VantagePoint Medium Term and Long Term Predictive Difference is still struggling on whether or not this currency pair will move higher or lower. This pair needs to clear the 1.3350 area to open the door for it to move higher.

What do the indicators say?

The VantagePoint predictive 18-day moving average is at 1.3223 and the PRSI is at 76.2.

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

Key Levels and market movement:

This pair is basically an equity trade. If the S&P 500 can stabilize and continue to move higher, this pair will recover and also start trading higher. Additionally, the VantagePoint predictive medium-term and long-term differences are starting to move higher as well.

What do the indicators say?

The PRSI is at 26.4 and the predictive 18-day moving average is at 112.645.

The Commodities Currencies

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

Key Levels and market movement:

The pair appears to be forming a sell signal. The Medium-Term Predictive Difference has crossed below the Long-Term Predictive Difference and below the zero line. However, if oil starts moving lower again, the USD/CAD pair will start moving higher.

What do the indicators say?

The VantagePoint predictive 18-day moving average is 1.2731 and the PRSI is 41.3.

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

Key Levels and market movement:

The VantagePoint indicators remain mixed for this pair. The AUD/USD pair needs a clean break of the key VantagePoint area of .7632 for a bigger move. If gold moves above the 1300 area, that will do it.

What do the indicators say?

The predictive 18-day moving average is .7632 and the PRSI is 49.7.

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

Key Levels and market movement:

This pair is virtually identical to the AUD/USD pair. It needs to clear the .69 area to make a bigger move to the upside. But again, gold is the key to this pair (and many others) going up or down.

What do the indicators say?

The predictive 18-day moving average is .6876 and the PRSI is 44.6

Are you ready to trade the currency markets using the power of Artificial Intelligence in VantagePoint? Request your demo below! 

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By | 2017-11-27T15:56:23+00:00 November 27th, 2017|Forex|0 Comments

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