VantagePoint Forex Weekly Outlook for December 3rd, 2018

Forex stock trading

Forex Weekly Outlook for December 3rd, 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 Dollar continues to show a slight bias towards the upside. It continues to rally slightly but leaves itself unable to penetrate the verified resistance zone to get to the 98 level. If the non-farm payroll comes in soft, it will kill the momentum the dollar is trying to hold on to.

What do the indicators say?

The VantagePoint key level is at 96.726 and the VantagePoint PRSI is at 67.8.

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 1.1359 and the VantagePoint PRSI is at 35.0.

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

What do the indicators say?

The VantagePoint key level is at 0.9953 and the VantagePoint PRSI is at 50.8

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

What do the indicators say?

The VantagePoint key level is at 1.2787 and the VantagePoint PRSI is at 27.7.

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

What do the indicators say?

The VantagePoint key level is at 113.54 and the VantagePoint PRSI is at 57.2.

The Commodities Currencies

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

What do the indicators say?

The VantagePoint key level is at 1.3271 and the VantagePoint PRSI is at 59.4.

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

What do the indicators say?

The VantagePoint key level is at 0.7248 and the VantagePoint PRSI is at 64.0.

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

What do the indicators say?

The VantagePoint key level is at 0.6768 and the VantagePoint PRSI is at 78.6.

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The post VantagePoint Forex Weekly Outlook for December 3rd, 2018 appeared first on VantagePoint.


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