VantagePoint Forex Weekly Outlook for the Week of February 4th, 2019

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. In addition, 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 has been under significant selling pressure after that unemployment number came out last week. With 6 down days in the dollar, we should start to see a bit of dollar buying to kick off the new month.

What do the indicators say?

The VantagePoint key level is at 95.564. In addition, the VantagePoint PRSI is at 39.4.

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, therefore helping Forex Traders. We analyze price action, as well as news events and/or risk off scenarios. All those play a role in market movement. VantagePoint Software reviews the Forex Weekly Outlook each Monday.

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

What do the indicators say?

The VantagePoint key level is at 1.1419. In addition, the VantagePoint PRSI is at 69.8.

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

What do the indicators say?

The VantagePoint key level is at 0.9934. In addition, the VantagePoint PRSI is at 61.5.

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

What do the indicators say?

The VantagePoint key level is at 1.2996. In addition, the VantagePoint PRSI is at 60.3.

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

What do the indicators say?

The VantagePoint key level is at 109.41. In addition, the VantagePoint PRSI is at 62.3.

The Commodities Currencies

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

What do the indicators say?

The VantagePoint key level is at 1.3263. In addition, the VantagePoint PRSI is at 14.4.

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

What do the indicators say?

The VantagePoint key level is at 0.7225. In addition, the VantagePoint PRSI is at 69.1.

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

What do the indicators say?

The VantagePoint key level is at 0.6815. In addition, VantagePoint PRSI is at 72.3.

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