The VantagePoint 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.
Key levels and market movements:
Despite a very strong payroll number, the dollar index is still showing weakness in VantagePoint. Currently, most of the bias is to the downsides of the US Dollar.
What do the indicators say?
The VantagePoint key level is at 96.154 and the VantagePoint PRSI is at 31.4.
VantagePoint 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 1.1391 and the VantagePoint PRSI is at 43.9.
U.S. Dollar/Swiss Franc (USD/CHF)
What do the indicators say?
The VantagePoint key level is at 0.9894 and the VantagePoint PRSI is at 39.0.
British Pound/U.S. Dollar (GBP/USD)
What do the indicators say?
The VantagePoint key level is at 1.2674 and the VantagePoint PRSI is at 59.8.
U.S. Dollar/Japanese Yen (USD/JPY)
What do the indicators say?
The VantagePoint key level is at 110.63 and the VantagePoint PRSI is at 32.4.
The Commodities Currencies
U.S. Dollar/Canadian Dollar (USD/CAD)
What do the indicators say?
The VantagePoint key level is at 1.3520 and the VantagePoint PRSI is at 26.6.
Australian Dollar/U.S. Dollar (AUD/USD)
What do the indicators say?
The VantagePoint key level is at 0.7056 and the VantagePoint PRSI is at 65.0.
New Zealand Dollar/U.S. Dollar (NZD/USD)
What do the indicators say?
The VantagePoint key level is at 0.6743 and the VantagePoint PRSI is at 52.7.
