CHF/JPY: Long
Position has been opened on May 6. In the last days, the pair is consolidating, but the uptrend seems still valid, and the pair is back in the Top 10 with a rank of 6.
The CHF has a currency score of 7 and the JPY a score of 2. The Weekly and Daily are all looking strong. The 4 Hour chart is consolidating. The currency score difference is 5 and the CHF is one of the strongest currency at the moment after the GBP(8).
GBP/AUD: Long
The pair was tipped last weekend and positions have been opened on Monday, June 15th. For more information, please check my Weekly strategy review: Weekly Review Strategy: Week 25
Possible positions for this week
There are many good opportunities this week in the Top 10. When also looking at the Currency Score, the EUR/NZD and EUR/AUD are not interesting, but all the other pairs look like a good opportunity. For the strategy, the NZD/USD seems the most interesting because there are already positions in the following currencies: CHF, GBP, JPY and AUD. The strategy avoids opening more than 1 pair with the same currency. The NZD/USD is now lower in the ranking because of a temporary weak USD with a score of only 4. The NZD remains the weakest with a score of 1.
Forex Weekly Ranking and Rating, Week 25 / Update Wednesday, June 17th, 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 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.