VantagePoint Forex Weekly Outlook for the Week of April 15th, 2019

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Vantagepoint Forex Weekly Outlook for the Week of April 15th, 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 is still in the offings and a trade deal with China is swirling about.  The market continues its sideways slide as answers remain just out of reach.

The US Dollar Index

The U.S. Dollar Index looks to go higher at the end and beginning of each month but tends to weaken in the middle of the month every month – this helps us to see if something is trend or just the normal cycle of the dollar.  The dollar index is soft, we have verified resistance but we have relatively good support coming in so we should expect more USD weakness for the next few trading sessions.  But we can also expect that the dollar will rebound to strength in the longer term.

The Gold Market

The dollar index and gold are both moving down at the same time.  The predictive moving average crossover DOWN occurred 3 sessions ago.  The NeuralNet indicator is also Bearish.  Gold has been trading basically sideways for the past three months, so we are primarily focused on range trading.   Since the US Dollar is slow, it’s a good time to pick up gold.  in the last 3 days, it’s been down -0.55% and Predictive RSI value of 38.6%.

Forex Weekly Outlook for Major Pairs

S&P 500

The S & P 500 has been slowly muddling along with a slight rise.  After a slight dip on the 29th, the latest rally has been on a steady climb.  The predictive moving average turned bullish 15 sessions ago and the NeuralNet Indicator Is GREEN indicating strength.  In the last 11 sessions, this market has seen a 2.48% rise and Predictive RSI is 80.2.

Crude Oil

Crude oil has come up to a strong resistance area.  The predictive moving average turned bearish and the NeuralNet Indicator is Red indicating a great opportunity for Sellers to sell strength in the market.  Over the last 3 months, Crude has been trading in a slight rise but basically sideways.  The latest mini-climb began on March 28, but we are coming up to a strong resistance area.  If stocks move higher, crude might get through that resistance. In the last 12 sessions, this market has had a 7.24% gain and the Predictive RSI value is 75.4.

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

The EUR/USD have been basically trading sideways with a slight downtrend over the last three months.  We are in a period of dollar weakness so we should see the Euro should start strengthening toward 1.14.  So good opportunities may be coming.

What do the indicators say?

The predictive moving average turned bullish 5 sessions ago. The NeuralNet Indicator Is GREEN indicating strength. The market is starting to rise from its low on April 3, 2019. In the last 5 session the market has gone up .38% and has a Predictive RSI value of 66.2%. Power Traders are expecting more strength ahead.

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

As the US/Euro goes up, the US/Swiss Franc usually grows softer.  There may be good short opportunties in the early part of this week and longs toward the end of the week — use Euro/USD to guide your trading.

What do the indicators say?

On March 14th the Swiss Franc took a pretty healthy dive, but as of the 29th it began to turn around. In 11 sessions, the market grew by 0.67%.  The Predictive RSI value is 66.19.  Vantagepoint Power Traders tuned in to this market have had numerous opportunities to Sell high and Buy Low.

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

Brexit remains elusive — will they stary or will they go…which is creating trouble, turmoil and angst.  A sustained break above 1.3098 for GBP/USD should offer some nice long opportunties.  Be cautious with shorts here.

What do the indicators say?
This market has been on a downward slide over the last three months but recently began a slow climb starting on April 8th at 1.1214 to 1.1299 at closing on the 12th.  In the last 8 sessions the GBP has lost 0.43%.  Both the Predictive Moving Average and the NeuralNet Indicators are bearish. The Predictive RSI value is 66.19.

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

Bank of Japan’s Kuroda says there is still room for further monetary easing.  Since the beginning of the year, the Yen has been on the rise with a dip in the third week of March.  The Yen is back on the move upward since the 29th of March.  At 1.1212 this pair is up against a huge resistance zone.  We usually see these in the third week of the month, predictably.  Any move higher than 1.1212 will be probably limited to 1.1371, so trade accordingly.

What do the indicators say?

Currently the Predictive Moving Average and the NeuratlNet Indicators are both bullish.  In the last 11 sessions the Yen is up .92% and the Predictive RSI value is 70.4.

The Commodities Currencies

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

The predictive moving average has turned bearish and the NeuralNet Indicators is also bearish for the CAD. The Canadian Dollar has been a bumpy ride over the last 3 months, but as of March 14 the highs and lows have been in a more narrow range.  The CAD is trading on a slight downturn right now, but as Greg says, it often turns around quickly. In the last 10 sessions the CAD has lost .24%.  Currently Predictive RSI value is 68.2

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

The predictive moving average turned turned up and the NeuralNet Indicator is Also Bullish on the Aussie dollar.  The big swings in the AUD market earlier this year are calming down. While we still see volatility, the highs and lows are closer together and generally on the rise since the 3rd of April.  In the last 8 session the AUD has been up .63%.  Currently Predictive RSI value is 44.0.

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

The predictive moving average turned bearish but in the last 2 sessions the NeuralNet Indicator has gone green to indicate strength in this currency pair.  While the Kiwi Dollar has been bouncing up and down in the same range for the past 3 months. After hitting a high point on March 26th, it’s been freefalling with a close at almost the same level as its lowest point at the beginning of the three months.  On the 11th of April, it began to change direction.  The NZD has a Predictive RSI value 41.7.

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