Weekly ranking and rating Wk02 / Update Tue. 13-Jan-2015. Analysis on 4 time frames with the Ichimoku & MACD indicator
AUD/USD: Avoiding this pair for now
Open
short positions of last week have been stopped out and for now this
pair is being avoided. It seems like the pair will continue to
consolidate and after the break through the high of 0,82154 the
direction remains unclear for the moment.
The AUD is
currently an average performer (Score:4) and the USD is still the
strongest so far
this week according to the FxTaTrader Currency Score.
The pair tumbled last week and is after the pull back of this week still below the lower Weekly Bollinger Band. No positions will be opened for now but the pair remains interesting for the FxTaTrader Weekly strategy once it gets inside the Bollinger Band again.
The EUR is currently the weakest currency and the NZD is still one of the strongest (Score: 7) so far this week according to the FxTaTrader Currency Score.
Possible positions for this week
At the moment no positions are taken for the FxTaTrader strategy although the EUR/USD looks interesting. However, also for this pair it seems as there will be some consolidation in the coming days. Many other pairs in the Top 10 are looking interesting also but are outside the Bollinger Band in the Weekly chart. However, they may still be interesting for trading intraday or based on a longer time frame being in this case the monthly.
FxTaTrader Forex weekly ranking
and rating Wk02 / Update Tue. 13-Jan-2015
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.
