VantagePoint Forex Weekly Outlook for October 22nd, 2018

VantagePoint Forex Weekly Outlook for October 22nd, 2018

Forex Weekly Outlook for October 22nd, 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 continues to fail around a very strong level of resistance. But, the Dollar tends to strengthen at the end of each month and large institutions are also increasing long positions.

What do the indicators say?

The VantagePoint key level is at 95.046 and the VantagePoint PRSI is at 62.3.

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 1.1548 and the VantagePoint PRSI is at 41.7.

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

What do the indicators say?

The VantagePoint key level is at 0.9907 and the VantagePoint PRSI is at 74.8.

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

What do the indicators say?

The VantagePoint key level is at 1.3094 and the VantagePoint PRSI is at 37.7.

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

What do the indicators say?

The VantagePoint key level is at 112.62 and the VantagePoint PRSI is at 53.9.

The Commodities Currencies

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

What do the indicators say?

The VantagePoint key level is at 1.3002 and the VantagePoint PRSI is at 76.0.

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

What do the indicators say?

The VantagePoint key level is at 0.7110 and the VantagePoint PRSI is at 44.9.

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

What do the indicators say?

The VantagePoint key level is at 0.6545 and the VantagePoint PRSI is at 76.0.

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By |2018-10-22T11:39:06+00:00October 22nd, 2018|Forex|0 Comments

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