EUR/NZD: Short One position that was opened on March 26 is still open for the pair. At the end of last week the downtrend was strong but the pullback that started at the begin of last week is not over yet and the pair is still consolidating. The NZD looks strong but has a lower currency score (5) compared with the start of the week. It is strong against almost all currencies except for the USD, CHF and JPY. The EUR has become a bit stronger but is still weak with a score of 2 and is the weak against all the other currencies except the AUD.Possible positions for this week The AUD/USD looks like an opportunity but with some weakness in the Weekly MACD and higher bottoms in the Daily MACD it seems best to wait for confirmation of the pair itself showing that the downtrend is resuming. If the pair breaks clearly through the most recent bottom of March 11 at 0,75604 there is an opportunity. The AUD has currently only a score of 2 being the weakest currency after the EUR. The USD has a score of 8 being the strongest currency at the moment.Another good opportunity is the AUD/CHF. This pair is making new lows every day and with a clear downtrend in the Weekly and Daily chart it seems as if this will continue. The CHF has a currency score of 7 and is strong against almost all currencies except the USD.FxTaTrader forex weekly ranking and rating Wk14 / Update Wed. 1-Apr-2015
Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Every week the forex ranking rating list will be prepared in the weekend. All the relevant Time Frames will be analyzed and the ATR and Pip value will be set. 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.
Forex Weekly Ranking And Rating: Week 14
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.