EUR/CAD, AUD/USD: Outlook For This Week
Forex Technical Analyst Trader | Nov 26, 2014 11:59PM ET
EUR/CAD: Short position of this week still open.
EUR is having a pull back on different pairs and is holding at the higher levels. However, it remains still a weaker currency and this offers an opportunity to take a short position on the EUR/CAD. The downtrend may resume any moment.
AUD/USD: Waiting for possible pull back.
One short position was closed this week with a profit of 1/2 Weekly ATR. New orders are pending to be opened on pull back.
Forex ranking and rating Wed. Wk 48 / 26-11-2014
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 Hybrid Grid strategy. Besides this list I also use the Currency Score which is available once a week on this blog also together with my weekly analysis on my Hybrid Grid Strategy.
Disclaimer: The article is 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.
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