Weekly Ranking And Rating: Wednesday, June 3rd, Week 23
Forex Technical Analyst Trader | Jun 04, 2015 12:37AM ET
CHF/JPY: Long
Little changes compared to yesterday. Position has been opened on May 6. The pair was low in the ranking list for about 2 weeks until last week and is now back high in the Top 10 with a rank of 2.
The CHF has a currency score of 8 and the JPY a score of 1 most of the time lately. The Weekly, Daily and 4 Hour charts are all looking strong. The currency score difference is 7, which is the highest difference possible, and the CHF is the strongest currency at the moment followed by the GBP(7) and the USD(6).
Possible positions for this week
There are some good opportunities this week in the Top 10, like the GBP/NZD, CHF/JPY, GBP/JPY, NZD/CHF, etc. Actually, almost the whole Top 10 looks interesting, except for the EUR/NZD when taking the Currency Score and the difference into account.
The AUD/USD is the most interesting at the moment for the strategy, but it is having a pullback in the Daily and 4 Hour chart. The preference goes to enter a position when the momentum starts to increase in the right direction.
Weekly Ranking And Rating Week 23 / Update Wednesday, June 3rd, 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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