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This article provides Currency Classification for the coming weeks. It is
recommended to
read the page Currency score explained and Models in practice
for a better
understanding of the article. This article
will provide my
analysis on the 8 major currencies based on the technical
analysis
charts using the MACD and Ichimoku indicator on 4
time frames: the monthly, weekly, daily and 4 hours. The result of the
technical analysis is the 2 screenshots in this article showing the
Currency Score and the Currency Score Difference.
The CAD has become a weak currency and switched places with the AUD which is now an average currency.
For now the average and weak classification categories contain 3 currencies while the strong classification has only 2 currencies.
Here
below are the charts providing the Currency classifications. There are three charts showing resp. the strong,
average and weak currencies.
When trading according to the FxTaTrader Strategy some
rules are in
place. For more information
see the page on my blog FxTaTrader Strategy.
Depending on the opportunities that may
come up the decision to trade a
currency may become more obvious at that moment. If you would like to
use this article then mention the source
by
providing the URL FxTaTrader.com
or the direct link to this article. Good luck in the coming week.
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.
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Last 3 months currency classification
The last 3 months currency classification from a longer term perspective are provided here with the new charts:- Strong: USD / NZD. The preferred range is from 7 to 8.
- Average: JPY, GBP, AUD. The preferred range is from 4 to 6.
- Weak: EUR, CHF, CAD. The preferred range is from
1 to 3.
The CAD has become a weak currency and switched places with the AUD which is now an average currency.
For now the average and weak classification categories contain 3 currencies while the strong classification has only 2 currencies.
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