Position has been opened on May 6. The pair is having a rank of 21 and is consolidating. The CHF has a currency score of 6 and the JPY a score of 1. The Weekly chart is looking strong but the Daily and 4 Hour chart are showing some consolidation. However, the currency score difference is 5 and the CHF is showing strength against almost all pairs except for the GBP and USD. Also, the JPY is the weakest currency at the moment so the current long position will remain open. If you are interested in the trades click here.
Possible positions for this week
The GBP/AUD and EUR/GBP look like an opportunity with ranks of 3 and 4. The GBP is the strongest currency at the moment with a score of 8. The AUD has a score of 4 and the EUR has a score of 3 being one of the weakest currencies after the NZD(2) and JPY(1). The Weekly charts are looking strong for both pairs but for the Daily and 4 Hour chart it seems better to wait for more confirmation before opening positions.
FxTaTrader Forex weekly ranking
and rating Wk21 / Update Tue. 19-May-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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