Weekly Ranking And Rating Week 22: Wednesday, May 27th
Forex Technical Analyst Trader | May 28, 2015 12:37AM ET
CHF/JPY: Long
Position has been opened on May 6. The pair was low in the ranking list for about 2 weeks until yesterday, and is now back in the Top 10 with a rank of 6.
The CHF has a currency score of 6 and the JPY was getting stronger in the last few days, but is now back to a score of 1, being the weakest currency. The Weekly chart is looking strong and the Daily is showing the the pullback may have finished. The 4 Hour chart is now in an uptrend, but as long as the Daily chart stays unconvincing, it is possible to see the 4 Hour chart in a downtrend again. The currency score difference is 5, and the CHF is showing strength against almost all pairs except for the GBP and USD. The JPY is the weakest currency with a score of 1, followed by the EUR(2) and the AUD(3).
Possible positions for this week
There are some good opportunities this week in the Top 10 like the EUR/GBP, GBP/AUD, EUR/USD, GBP/JPY, AUD/USD etc. The GBP is the strongest currency at the moment, with a score of 8, followed by the USD(7) and the CHF(6).
Weekly Ranking and Rating Week 22 / Update Wednesday, May 27th, 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.
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