VantagePoint Forex Weekly Outlook for July 30th, 2018

Forex stock trading

Forex Weekly Outlook for July 30th, 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:

Based around the US GDP number from Friday, these signal all positive moves for the US Dollar going forward.

What do the indicators say?

The VantagePoint key level is at 94.437 and the VantagePoint PRSI is at 47.9.

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)

What do the indicators say?

The VantagePoint key level is at 1.1675 and the VantagePoint PRSI is at 41.5.

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

What do the indicators say?

The VantagePoint key level is at 0.9942 and the VantagePoint PRSI is at 43.5.

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

What do the indicators say?

The VantagePoint key level is at 1.3148 and the VantagePoint PRSI is at 37.2.

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

What do the indicators say?

The VantagePoint key level is at 111.41 and the VantagePoint PRSI is at 26.2.

The Commodities Currencies

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

What do the indicators say?

The VantagePoint key level is at 1.3136 and the VantagePoint PRSI is at 24.3

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

What do the indicators say?

The VantagePoint key level is at 0.7403 and the VantagePoint PRSI is at 42.4.

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

What do the indicators say?

The VantagePoint key level is at 0.6798 and the VantagePoint PRSI is at 43.4.

demo

The post VantagePoint Forex Weekly Outlook for July 30th, 2018 appeared first on VantagePoint.