FX Review FxTaTrader Weekly Strategy Week 12 / Sunday 15-Mar-2015

15 March 2015, 21:52
Forex Technical Analyst Trader
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In this article I will provide my view on the AUD/NZD, AUD/USD, EUR/USD and the GBP/JPY. These are the pairs that I am currently interested in or was interested in last week for trading with the FxTaTrader weekly strategy. I will pick one to analyse in more detail from the pairs that have not been discussed yet recently.

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Open/pending positions of last week

AUD/NZD

This pair will be analyzed briefly, for more information read the article Weekly Review Strategy Wk10 where the pair was tipped for going short. Unfortunately all positions hit the stoploss level last week. Positions will be opened again when the Daily chart picks up the downtrend again. This seems to be the case at the moment and coming week short positions may be opened again.

The NZD is a stronger currency from a longer term perspective and currently has a score of 7, a pullback took place in February and the currency recovered well in the last weeks. The AUD is a weaker currency from a longer term perspective and currently has a score of 2. It also had a pullback in February and is back again on the lower side of the Currency Score range. The currency remains weak and it seems to stay this way in the coming period. With a Currency score difference of 5 and the NZD better classified it is an interesting pair. 
  • On the weekly(decision) chart the indicators are looking strong for going short.
  • In the weekly chart the Ichimoku is meeting all the conditions.
  • The MACD is in negative area but the histogram should show some momentum building up again.
  • The Parabolic SAR is short and showing the preferred pattern of lower stop loss on opening of new long and short positions.

Ranking and rating list Week 12
Rank: 6
Rating: - -

Total outlook: Down

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GBP/JPY

This pair will be analyzed briefly, for more information read the article Weekly Review Strategy Wk07 where the pair was tipped for going long. The GBP is a stronger performer from a longer term perspective but has currently only a score of 5. The JPY is an average currency from a longer term perspective and currently has a score of 6. It is gaining momentum but it will most probably return to an average currency score being between 3 and 5.

Unfortunately all positions for the pair hit the stop loss level last week. No long positions will be opened in the coming week for this pair because the Currency score of the JPY is higher than of the GBP. The pair remains interesting for the coming period so a new opportunity may arise in the coming weeks.
  • On the weekly(decision) chart the indicators are looking reasonable for going long.
  • The Ichimoku is meeting all the conditions although the pair is close to the Kijun-Sen and it should hold there and rebound by preference.
  • The MACD is in positive area but loosing momentum.
  • The Parabolic SAR is short but showing the preferred pattern of higher stop loss on opening of new long and short positions.

Ranking and rating list Week 12
Rank: 20
Rating: = -

Total outlook: Neutral

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EUR/USD

This pair will be analyzed briefly, for more information read the article Weekly Review Strategy Wk11 where the pair was tipped for going short. The USD is a stronger currency from a longer term perspective with a score of 8. The EUR remains weak with a score of 1. The downtrend is still strong. Last week pending orders were placed to be opened on light pullback but the pair continued the strong downtrend and no positions were opened.
  • On the weekly(decision) chart the indicators are looking strong for going short.
  • The Ichimoku is meeting all the conditions.
  • The MACD is in negative area and gaining momentum.
  • The Parabolic SAR is short and showing the preferred pattern of lower stop loss on opening of new long and short positions.

Ranking and rating list Week 12
Rank: 1
Rating: - - -

Total outlook: Down


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Possible positions for coming week

AUD/USD

This pair will be analyzed in detail. The USD is a stronger currency from a longer term perspective with a score of 8. The AUD remains weak with a score of 2. The pair is around a previous bottom made in February. When looking at the daily chart it seems to have enough momentum to break and hit new lows.
  • As can be seen in the Currency Score chart in my previous article of this weekend the USD is having a score of 8 and the AUD a score of 2. 
  • In the current Ranking and Rating list of this weekend the pair has a rank of 3. This list is used as additional information besides the Currency score and the Technical Analysis charts.
  • Besides the general information mentioned the outlook in the TA charts also makes it an attractive opportunity.
Ranking and rating list Week 12
Rank: 3
Rating: - - -

Weekly Currency score: Down
Based on the currency score the pair looked interesting in the last 3 months. The USD is a stronger currency from a longer term perspective and had in the last weeks a score of 7 and 8. The AUD is a weaker currency from a longer term perspective and had in the last weeks a score between 1 and 4. The currency remains weak and it seems to stay this way in the coming period. With currently a Currency Score difference of 6 and the USD being better classified it is an interesting pair for taking positions in the coming week.

Week 12 15-Mar-2015 FxTaTrader.com Forex AUDUSD Currency Score


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Monthly chart: Down
  • On the monthly(context) chart the indicators are looking strong for going short.
  • The Ichimoku is meeting all the conditions.
  • The MACD is in negative area and gaining momentum.
  • The Parabolic SAR is short and showing the preferred pattern of lower stop loss on opening of new long and short positions.
  • Since the monthly chart is used to get the context how that pair is developing for the long term the indicators are looking fine because they are showing strength in the current downtrend.

Weekly chart: Down
  • On the weekly(decision) chart the indicators are looking strong for going short.
  • The Ichimoku is meeting all the conditions.
  • The MACD is in negative area but it should gain some more momentum.
  • The Parabolic SAR is short showing the preferred pattern of lower stop loss on opening of new long and short positions.

Daily chart: Down
  • On the daily(timing) chart the indicators are looking strong for going short.
  • The Ichimoku is meeting all the conditions.
  • The MACD is in negative area and gaining strength.
  • The Parabolic SAR is short and showing the preferred pattern of lower stop loss on opening of new long and short positions.

Total outlook: Down

FxTaTrader.com AUDUSD Weekly Week12 15-Mar-2015

AUD/USD Weekly chart


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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 and don't forget to check my weekly Forex "Ranking and Rating list" and the "Currency Score".

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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.
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