VantagePoint Forex Weekly Outlook for September 11th, 2017

Forex Weekly Outlook

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 US Dollar isn’t looking great. The predictive short, medium and long-term differences have all pointed lower and there is a crossover to the downside with the PMACD. The PRSI cannot hold above the 50 level either. There is a swing low around the 91 level that could provide some support for the US Dollar, but with the damage from the hurricanes that means more money coming out of the US spent on rebuilding with an already heavy debt load.

What do the indicators say?

The VantagePoint predictive 18-day moving average is at 92.272 and the VantagePoint PRSI is at 21.5. The neural index is back at a “zero” position indicating short-term weakness.

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:

While the US Dollar appears to be starting a bearish cycle, this means the Euro has a chance to move higher. This doesn’t mean that the Euro won’t have retracements, but it’s looking to make a bullish move. The predictive indicators in VantagePoint also support this. They continue to point higher. Buying areas are starting at the 1.200 level as momentum builds.

What do the indicators say?

The predictive 18-day moving average is 1.1879 and the PRSI is at 76.9. 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:

There is a double bottom that is now being challenged around the .9450 level. If the Euro/US Dollar continues to move higher, this pair is likely to move lower. This indirectly suggests that the global equity markets are going to follow as well.

What do the indicators say?

The PRSI is at a 20.2 and the predictive 18-day moving average is at .9575. 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:

This pair had a significant move to the upside. And the savvy trader using the VantagePoint indicators knew this. There is a swing high coming in around the 1.32 level that is of slight concern. If the pair can clear this high, traders can look for new highs to follow. Traders can look to buy into the level between 1.3116 and 1.2983.

What do the indicators say?

The VantagePoint predictive 18-day moving average is at 1.2983 and the PRSI is at 85.3

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

Key Levels and market movement:

This pair has a bottom trend line at the 108.10 area and it closed last week at 107.82. This suggests that the pair will continue to move lower. As long as the global equity markets continue to move lower, the US Dollar/Yen pair has little to no upside traction. If the global equity markets start to sell off, this pair will probably move into the 104 or 105 area rather quickly. If that happens, that bottom 108 area will be the new top for this pair.

What do the indicators say?

The PRSI is at 22.2 and the predictive 18-day moving average is at 109.030.

The Commodities Currencies

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

Key Levels and market movement:

The Bank of Canada raised rates, which sent the pair lower. The VantagePoint indicators are showing that the pair is grossly oversold. There is resistance starting at the 1.2171 area.

What do the indicators say?

The VantagePoint predictive 18-day moving average is 1.2421 and the PRSI is 13.9.

Australian Dollar/U.S. Dollar (AUD/USD) and New Zealand Dollar/U.S. Dollar (NZD/USD)

Key Levels and market movement:

For the AUD/USD pair, if it can hold above the key VantagePoint level of .7965 then the pair has the potential to go considerably higher. For 2017, this pair has had retracement points but has ultimately trended higher for the year. It is reasonable to say that the trend will continue. With the break of these swing highs, the top side is wide open.

For the NZD/USD pair, it is basically the same trade as the AUD/USD but this pair is slightly weaker because of the Aussie strength. There is good trend line support coming in at the .7150 level and longs are heavily favored with this pair. Traders can look to be buyers of this pair all the way down to the .7150 area.

What do the indicators say?

For the AUD/USD, the predictive 18-day moving average is .7965 and the PRSI is 83.3.

For the NZD/USD pair, the predictive 18-day moving average is .7237 and the PRSI is 58.2.

VantagePoint Demo Weekly Outlook

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VantagePoint Trading Software has been changing the lives of traders for over 25 years with its world leading market forecasts for stocks, futures, forex and etf’s that are proven to be up to 86% accurate.

VantagePoint Software

VantagePoint Trading Software has been changing the lives of traders for over 25 years with its world leading market forecasts for stocks, futures, forex and etf’s that are proven to be up to 86% accurate.

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