AUD/NZD: Short
One short position has been opened this week. See for more information my Strategy article of this weekend. The AUD is having a currency a score of 4 and and the NZD a score of 7. See for more information the Currency score article of this weekend.
- The AUD is clearly weak against the USD, GBP and NZD. It is +/- neutral against the other currencies.
- The NZD is looking strong against almost all currencies except the USD. It is +/- neutral against the GBP.
The pair looks interesting with the Ichimoku, PSAR and MACD going short in the Daily chart. In the faster 4 Hour Time Frame the pair is looking fine also for going short. Only the PSAR is long but almost reversing and showing the preferred pattern of lower stop loss on opening of new long and short positions.
Possible positions for this week
The GBP/JPY seems more and more an opportunity to go long. The PSAR reversed and the pair could not break until now through the 76,4 % Fibo level. See for more information my Strategy article of this weekend.
FxTaTrader Forex weekly ranking and rating Week 10 / Update Tue. 03-Mar-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.
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.