Possible positions for this week
There are many good opportunities in the Top 10 of the Ranking and
Rating list. The NZD, CAD and CHF are looking strong and seem good currencies to trade against e.g. the EUR, AUD and GBP.
The
pairs discussed last weekend in the strategy article
remain interesting. These are the EUR/NZD and the GBP/USD. The NZD
remains strong with a currency score of 8 being the strongest and the
EUR remains the weakest currency. The GBP went up 1 point
compared to last weekend to a score of 3 and the USD went down today to
a score of 5 after the NZD, CAD and the CHF. Both pairs are now having
a pullback and it is not
very clear yet when the downtrend will resume again. The EUR/NZD is
showing downward momentum building up so this pair starts to look
interesting for taking short positions.
FxTaTrader Forex weekly ranking
and rating Wk16 / Update Wed. 15-Apr-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.
_______________________________________________________
The Forex ranking and rating list is meaningful data for my FxTaTrader strategy. Besides this list I also use the Currency Score which is also available once a week on my blog at FxTaTrader.com also together with my weekly analysis on my Strategy.
_______________________________________________________
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.