GBP/AUD: Long position closed
The pair was tipped last weekend and positions have been opened on Monday June 15. For more information please check my Weekly strategy review: Weekly Review Strategy Week 25. The GBP is almost the strongest currency at the moment with a score of 7 after the USD(8). The AUD is having a score of 3 being stronger than the CAD(2) and the NZD(1). The 4 Hour and Daily chart are showing some weakness so a pull back may be around the corner. For that reason the open position was closed yesterday with a profit of 302 pips, click here for more information.
NZD/USD: Short position opened
A position has been opened for this pair. The NZD is the weakest currency with a currency score of 1 and the USD is at the moment the strongest currency with a score of 8. The pair broke through the most recent lows around 0,6785 and had a pullback to that level which is now a resistance level. This offered an opportunity and a position has been opened. If you are interested in the trades click here.
Possible positions for this week
There are many good opportunities this week in the Top 10. When also looking at the Currency Score all the pairs remain interesting, For the strategy the GBP/AUD remains interesting. The GBP/CAD is also interesting but before stepping in the CAD it is best to check the Oil TA chart. It seems as the downtrend can resume any moment but it is not yet the case when looking at the Weekly Oil chart.
FxTaTrader forex weekly ranking and rating Week 27 / Update Wed. 1-July-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.