FxTaTrader Forex Currency Score Wk 41 / 5-10-2014

In this article I will provide my analysis and the FxTaTrader Currency Scrore chart which is my view on the 8 major currencies based on the Technical analysis charts using the MACD and Ichimoku indacator on 4 time frames, the monthly, weekly, daily and 4 hours. See for full details the page "Currency score explained" on my blog FxTaTrader.com.

The FxTaTrader Forex Currency Score chart is meaningful data for my FxTaTrader Hybrid Grid strategy. Besides this chart I also provide my weekly analysis on my strategy and the Forex ranking and rating list which is available 3 times a week on this blog.

• The USD, GBP, CAD and JPY are very strong. The AUD, NZD, EUR and CHF are the weakest currencies. The best pairs to look at are a combination of those pairs.
• Many pairs are currently in overbought and oversold conditions for the FXTaTrader Hybrid Grid strategy. According to this a pair is overbought/oversold once it is above/below the Weekly Bollinger Band. This is especially the case for the NZD and AUD.
• The EUR and CHF seems the best pairs to go short because the AUD and NZD seems to have a temporary dip according to the currency score chart of these currencies and may recover soon.
• The EUR is weaker than the CHF so this seems the better currency to go short with the USD, CAD or GBP. 
• The EUR/USD is still oversold and for this reason the EUR/GBP and EUR/CAD seems to be the better pairs to take positions. 
• Both pairs EUR/CAD and EUR/GBP are having a reasonable currency score of resp. 8 and 13.
• For the coming week EUR/CAD is the best pair to trade and the EUR/GBP the second best according to the strategy rules for the FxTaTrader Hybrid Grid strategy.
• Last week (pending) orders were placed for the EUR/GBP and profit was made on 2 positions.