FX Weekly ranking and rating Wk01 / Update Wed. 07-Jan-2015. Analysis on 4 time frames with the Ichimoku & MACD indicator
AUD/USD: Short.
The
pair is consolidating and offers an opportunity to go short on pull
back. This pull back may go up to the last high at 0.82154.
AUD
is
currently one of the the weakest currencies and the USD remains the
strongest so far
this week.
The pair tumbled in the last days and the downtrend in the Weekly chart is resuming. Also for this pair is a pull back an opportunity to go short.
The pair is now below the lower Bollinger Band in the Weekly chart. Also with a movement of 482 pips from high to low this week while the ATR(14) is 298 pips it seems as if a pull back is in place and may occur any moment.
The EUR is currently one of the the weakest currencies and the NZD one of the strongest so far this week.
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.
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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
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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 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.
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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.
