This article provides the Currency Classification for the coming weeks based on my analysis for the 8 major currencies. This is based on the technical analysis charts using the MACD and Ichimoku indicator on 4 time frames: the monthly, weekly, daily and 4-hour. The result of the technical analysis are the Currency Classification charts in this article.
Last 3 months currency classification updated on Week 13 - March 27, 2016.
The last 3 months currency classification from a longer-term perspective are provided here with the new charts:
- Strong: USD / JPY / CHF. The preferred range is from 6 to 8.
- Average: EUR, AUD, NZD. The preferred range is from 3 to 5.
- Weak: GBP, CAD. The preferred range is from 1 to 2.
The CHF gained a lot of strength lately, being stronger than the NZD for 9 of the 13 weeks and having a higher average also. That is why the CHF and the NZD switched places. See for more information the article: Forex Strength and Comparison WK13.
Here below are the charts providing the currency classifications. There are three charts showing the strong, average and weak currencies.
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.