VantagePoint Forex Weekly Outlook for October 29th, 2018

VantagePoint Forex Weekly Outlook for October 29th, 2018

Forex Weekly Outlook for October 29th, 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:

Our main event risk with the US Dollar this week is the non-farm payroll. Along with this, the dollar is approaching a long term swing high. With both of these variables, traders need to exercise caution this week.

What do the indicators say?

The VantagePoint key level is at 95.969 and the VantagePoint PRSI is at 65.6.

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 1.1426 and the VantagePoint PRSI is at 35.9.

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

What do the indicators say?

The VantagePoint key level is at 0.9964 and the VantagePoint PRSI is at 59.2.

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

What do the indicators say?

The VantagePoint key level is at 1.2909 and the VantagePoint PRSI is at 9.5.

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

What do the indicators say?

The VantagePoint key level is at 112.38 and the VantagePoint PRSI is at 29.8.

The Commodities Currencies

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

What do the indicators say?

The VantagePoint key level is at 1.3069 and the VantagePoint PRSI is at 59.7.

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

What do the indicators say?

The VantagePoint key level is at 0.7078 and the VantagePoint PRSI is at 33.3.

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

What do the indicators say?

The VantagePoint key level is at 0.6532 and the VantagePoint PRSI is at 37.0.

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By |2018-10-29T12:26:35+00:00October 29th, 2018|Forex|0 Comments

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