EUR/USD still a favorite. Forex Weekly Ranking & Rating Nov. Wk 46 / 08-11-2014. Analysis on 4 time frames with the Ichimoku & MACD indicator
8 November 2014, 12:04
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Besides the Ranking and Rating list provided here I will provide tomorrow (Sunday Nov. 9) the Weekly Currency Score list which will support my analysis for trading in the coming week. Around opening time of Forex tomorrow I will also provide my Review on the Hybrid Grid strategy.
When looking at the Weekly Ranking and Rating list we can see that for the coming week the USD is well represented(4x) as the stronger currency in the Top 10 of the list followed by the GBP(3x). The JPY(4x) is clearly the weaker currency followed by the EUR(3x) and the AUD(2x).
All the JPY pairs presented in the Top 10 of the list, except for the NZD/JPY, are looking overbought in the Weekly charts being above the Upper Bollinger Band. For intra week trading it seems best to wait for a pull back below this Band.
The other pairs seem to be the good combinations for the coming week at this moment. The EUR/USD is one of the favorites. However, when looking at spreading risks other pairs may look interesting also. By not trading the same currency in the same direction more than once you may have better chances with lower risk.
- The pairs that come in the picture are then e.g. the AUD/USD with the EUR/GBP.
- Another good combination for the coming week can be the EUR/USD with the GBP/AUD.
Forex weekly ranking and rating for Nov. Wk 46 / 08-11-2014
Calculations on 4 time frames with the Ichimoku & MACD indicator. Analysis based on TA charts for all the major currency pairs. Every week the Forex ranking & rating list will be provided in the weekend. There will be 2 updates during the week on Tuesday and Wednesday. The result is 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 time frame, meaning 12 price bars/candlesticks.
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Although the explanation may seem simple and clear there is always risk involved. I added a disclaimer to my blog for this purpose. If you 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 and don't forget to check this weekend my weekly Forex "Currency Score" and the "Review Hybrid Grid".
