VantagePoint Forex Weekly Outlook for the Week of April 1st, 2019

Forex stock trading

Vantagepoint Forex Weekly Outlook for the Week of April 1st, 2019

The Vantagepoint Forex Weekly Outlook is designed to help traders. It’s important to 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 in VantagePoint Software can help traders find the right trades and the right times. Above all, traders know when to enter and exit those trades for maximum profit. Let’s look at the charts for the U.S. Dollar, Gold, Crude Oil The Stock Market and the Major Pairs.

Brexit worries weighed heavy on the currency markets.   Following the third defeat of the Prime Minister May’s Withdrawal Agreement, the concern is what will the EU look like should Brexit move forward?

The US Dollar Index

The U.S. Dollar Index is moving into a major resistance area according to the Vantagepoint indicators.  97.20 is the major area of resistance.  Traditionally the US Dollar struggles the first week of the month.  We should be looking for a potential reversal very soon.

The Gold Market

The resistance overhanging the US Dollar should support the Gold market as it moves into a major support area on the charts.  We anticipate that towards the end of this coming week that we will see Gold start to reverse once it finds major support at the 1286 area.  The RSI is in oversold condition.  We don’t trade off of just overbought and oversold conditions.  We look at the angle of the indicator to turn around.  This in our opinion is a warning of pending dollar weakness.

Forex Weekly Outlook for Major Pairs

S&P 500

When we look at the equity markets going into next week we feel this is a very easy setup.  Major resistance in the S&P 500 at 2864 with major support at 2780.  My optimism on a major stock market rally remains heavily guarded.  We are at the beginning of a new quarter and the first several days of this month will provide very strong clues as to whether the market can break the major overhead resistance and move higher.

Crude Oil

If stocks move lower we anticipate that Oil will move lower as well.  Oil has bumped up against the $60.39 area 4 times and failed.  This is MAJOR resistance in the crude oil market.  We are going to need to close over $60.38 for at least 2 days in a row to indicate that the Crude Oil is getting ready to move higher.  We are watching this market very closely.

Euro/U.S. Dollar (EUR/USD)

The EURO is moving into a known area of verified support at 1.1176. This market is moving into an oversold condition. We look for the Euro to reverse higher by the latter part of this coming week. We are patiently waiting for the Vantagepoint indicators to confirm that perspective. Our first clue that this analysis is correct is waiting for the NeuralNet indicator to turn green after it finds support at the 1.1176 area.

What do the indicators say?

Predictive moving average turned lower a few sessions ago.  Neural Net is red indicating weakness.  Ranges have been narrow.  Beginning of the quarter we think we will see more of the same until the end of this week.  Predictive RSI is very oversold at 7.8.

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

If the equities market can break through resistance and move higher we will see strength in the USD/CHF.  My optimism is very guarded in this regard.  Heavy resistance in this market at .9973.

What do the indicators say?

Predictive moving average turned negative 8 sessions ago.  The NeuralNet indicator is also negative and the predictive RSI is at 46.4.  USD/CHF will follow the equities markets.

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

The Pound/Dollar is being very much affected by Brexit concerns. Major support at 1.2773. We are leaning towards the LONG side of this market with stops under the $1.2773 area. Should a reversal occur we anticipate it will occur towards the latter part of the week.

What do the indicators say?

The predictive moving average is struggling and NeuralNet indicator is negative with the PRSI oversold at 12.

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

The Dollar-Yen is following the pattern of the USD/CHF.  We are watching the pivot area at 110.68.  If stocks can recover this pair will follow the stock indexes.

What do the indicators say?

The predictive moving average is positive as is the NeuralNet indicator.

The Commodities Currencies

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

Overhead resistance in the USD/CAD market is looking like it could easily be violated.  Resistance at 1.3392 is the first target and matches the Vantagepoint high of the day.

What do the indicators say?

Mixed bag of tricks here.  PRSI is at 50 but pointing lower.  NeuralNet is also negative and Predictive moving average is struggling.  Predictive MACD is also pointing lower.

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

Narrow ranges is the AUD/USD are showing that traders in this market are scalping the market.  Predictive MACD is sideways and Predictive RSI is pointing higher.  This is a very tight channel on the charts.  7147 is the high and resistance.  7065 is the low and support.

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

Good support in the NZD/USD.  NeuralNet is positive.   Overhead resistance at 6920.  PRSI is turning up.  This market looks to us like it will challenge the highs from last week.demo

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