Forex Ranking & Rating Wk48 / 23-11-2014. Analysis on 4 time frames with the Ichimoku & MACD indicator
23 November 2014, 11:54
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Besides
the Ranking and Rating list provided here I will also prepare this
weekend the Weekly Currency Score list which will support my analysis
for trading in the coming week which is then followed by my Review on
the Hybrid Grid strategy.
When looking at the Top 10 in the Weekly Ranking and Rating list we can see that for the coming week the follwing stronger currencies are well represented: USD(4x), CAD(2x) and the NZD(2x). The JPY(5x) is clearly the weaker currency followed by the EUR(3x).
All the JPY pairs presented in the Top 10 of the list 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. There have been some pull backs during the last few weeks in the JPY pairs. However, in the last few weeks there were also other interesting pairs and according to the rules of the FxTaTrader Hybrid Grid strategy the preference goes to 2 pairs chosen for trading. If a possibility comes around with a JPY pair it will be analyzed for possible trading.
The other interesting pairs for the coming week at this moment besides the JPY pairs on pull back are the EUR/USD, EUR/CAD, AUD/USD, EUR/NZD and the GBP/USD all for going short. Even if the latter one are the 2 stronger currencies from a longer term perspective it is clear that the GBP is the weaker one. This can clearly be seen in the Currency score of this week. See for more information my article of last week Forex Currency Score Wk 47.
A nice combination for coming week may be e.g:
A JPY pair on pull back may look interesting also to be added making it the maximum amount of pairs(3) being reached according to the rules for the strategy. This should be a pair that does not have a currency already being used in an other pair of preferecne for trading.
The EUR/USD is also a good pair for trading but it cannot be combined with another pair unless it is a JPY pair on pull back.
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.
The Forex ranking and rating list is meaningful data for my FxTaTrader Hybrid Grid strategy. Besides this list I also use the Currency Score which is available once a week on this blog also together with my weekly analysis on my Hybrid Grid Strategy. For more information on the FxTaTrader Forex Models "Ranking and Rating list" and "Currency Score" visit the following pages on my blog:
Introduction to the FxTaTrader Forex Models
FxTaTrader Forex Ranking & Rating list
Currency score explained
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".
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.
When looking at the Top 10 in the Weekly Ranking and Rating list we can see that for the coming week the follwing stronger currencies are well represented: USD(4x), CAD(2x) and the NZD(2x). The JPY(5x) is clearly the weaker currency followed by the EUR(3x).
All the JPY pairs presented in the Top 10 of the list 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. There have been some pull backs during the last few weeks in the JPY pairs. However, in the last few weeks there were also other interesting pairs and according to the rules of the FxTaTrader Hybrid Grid strategy the preference goes to 2 pairs chosen for trading. If a possibility comes around with a JPY pair it will be analyzed for possible trading.
The other interesting pairs for the coming week at this moment besides the JPY pairs on pull back are the EUR/USD, EUR/CAD, AUD/USD, EUR/NZD and the GBP/USD all for going short. Even if the latter one are the 2 stronger currencies from a longer term perspective it is clear that the GBP is the weaker one. This can clearly be seen in the Currency score of this week. See for more information my article of last week Forex Currency Score Wk 47.
A nice combination for coming week may be e.g:
- EUR/NZD with the GBP/USD
- EUR/CAD with the GBP/USD
- EUR/NZD with the AUD/USD
- EUR/CAD with the AUD/USD
A JPY pair on pull back may look interesting also to be added making it the maximum amount of pairs(3) being reached according to the rules for the strategy. This should be a pair that does not have a currency already being used in an other pair of preferecne for trading.
The EUR/USD is also a good pair for trading but it cannot be combined with another pair unless it is a JPY pair on pull back.
Forex weekly ranking and rating
for Wk 48 / 23-11-2014
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 Hybrid Grid strategy. Besides this list I also use the Currency Score which is available once a week on this blog also together with my weekly analysis on my Hybrid Grid Strategy. For more information on the FxTaTrader Forex Models "Ranking and Rating list" and "Currency Score" visit the following pages on my blog:
Introduction to the FxTaTrader Forex Models
FxTaTrader Forex Ranking & Rating list
Currency score explained
____________________________________________
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".
____________________________________________
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.
