FX Weekly Ranking and Rating Wk10 / Wed. 04-Mar-2015

AUD/NZD: Short
One short position has been opened this week and closed today with a profit of 1/2 Weekly ATR (84 pips). On pullback postions will be opened again. See for more information my Strategy article of this weekend. The AUD is currently having a currency a score of 3 and and the NZD a score of 8.

• The AUD is clearly weak against the USD, CAD and NZD. It is +/- neutral against the other currencies.
• The NZD is looking strong against all the currencies.

The pair looks interesting with the Ichimoku, PSAR and MACD going short in the Daily chart and the faster 4 Hour Time Frame.
 

GBP/JPY: Long
One long positions has been opened on pullback today of the pair. The pullback is stronger than expected but another order is pending to be opened in case price continues to go down. See for more information my Strategy article of this weekend.

The GBP is currently having a currency a score of 6 and and the JPY a score of 2.

• The JPY is clearly weak against the NZD, USD, GBP and the CAD. It is +/- neutral against the other currencies.
• The GBP is struggling in the last days and is weak against the NZD, USD and the CAD. It remains in general striong against the other currencies.

The pair looks interesting in the Daily chart but is now consolidating after the pullback of last 2 days. In the faster 4 Hour Time Frame it is in a downtrend which is most probably for a short period.

Possible positions for this week
The EUR/USD short is a good opportunity with the downtrend resuming. Positions will be opened on a light pullback.

Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Every week the Forex ranking rating list will be prepared in the weekend. All the relevant Time Frames will be analyzed and the ATR and Pip value will be set.

There will be 2 updates during the week on Tuesday and Wednesday. The Daily and 4 Hour chart will then be analyzed and updated.
This makes that there will be no more than 48 trading hours between each update. This is a reasonable period when considering that the smallest time frame used is the 4 hours, meaning 12 price bars/candlesticks.

The Forex ranking and rating list is meaningful data for my FxTaTrader strategy. Besides this list I also use the Currency Score which is also available once a week on my blog at FxTaTrader.com also together with my weekly analysis on my Strategy.

DISCLAIMER: The articles are my personal opinion, not recommendations, FX trading is risky and not suitable for everyone.The content is for educational purposes only and is aimed solely for the use by ‘experienced’ traders in the FOREX market as the contents are intended to be understood by professional users who are fully aware of the inherent risks in forex trading. The content is for 'Forex Trading Journal' purpose only. Nothing should be construed as recommendation to purchase any financial instruments. The choice and risk is always yours. Thank you.