Weekly Ranking And Rating: Wednesday, Week 16
Forex Technical Analyst Trader | Apr 16, 2015 12:56AM ET
Possible positions for this week
There are many good opportunities in the Top 10 of the Ranking and Rating list. The NZD, CAD and CHF are looking strong and seem good currencies to trade against e.g. the EUR, AUD and GBP.
The pairs discussed last weekend in the strategy article remain interesting. These are the EUR/NZD and the GBP/USD. The NZD remains strong with a currency score of 8 being the strongest and the EUR remains the weakest currency. The GBP went up 1 point compared to last weekend to a score of 3 and the USD went down today to a score of 5 after the NZD, CAD and the CHF. Both pairs are now having a pullback and it is not very clear yet when the downtrend will resume again. The EUR/NZD is showing downward momentum building up so this pair starts to look interesting for taking short positions.
FxTaTrader forex weekly ranking and rating Week 16 / Update Wed. 15-Apr-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.
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