Position has been opened on May 6. The pair was low in the ranking list for about 2 weeks until last week and is now back high in the Top 10 with a rank of 2.
The CHF has a currency score of 8 and the JPY a score of 1 most of the time lately. The Weekly, Daily and 4 Hour charts are all looking strong. The currency score difference is 7, which is the highest difference possibl, and the CHF is the strongest currency at the moment followed by the GBP(7) and the USD(6). If you are interested in the trades click here.
Possible positions for this week
There are some good opportunities this week in the Top 10 like the GBP/JPY, AUD/CHF, USD/JPY, AUD/USD etc. The AUD/USD is the most interesting at the moment for the strategy but it is having a pullback in the Daily and 4 Hour chart. The preference goes to enter a position when the momentum starts to increase in the right direction.
FxTaTrader Forex weekly ranking
and rating Wk23 / Update Tue. 02-June-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 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.
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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.