Forex Technical Analyst Trader | May 03, 2015 01:02AM ET
EUR/GBP
This pair will be analyzed briefly, for more information read the article Weekly Review Strategy Week 18 where the pair was tipped for going short. The pair looked insteresting last week for taking short positions but during the week the EUR became very strong. No positions have been opened for this pair.
The GBP is an average currency from a longer term perspective and has a currency score of 5 at the moment. The EUR is a weak currency but had a strong pullback last week and a currency score of 4. With a Currency score difference of 1 and the GBP better classified it is an interesting pair. However, the pair looks lost momentum in the Weekly chart and looks neutral at the moment in the Daily chart. It looks Bullish in the 4 Hour chart so for the coming period this pair will be avoided.
Ranking and rating list Week 19
Rank: 28
Rating: =
Total outlook: Down
GBP/JPY
This pair will be analyzed in detail. The GBP found the uptrend again in week 17 and had a pull back last week but is remaining strong. The JPY remains weak from a longer term perspective. The pair offered a good opportunity last week and the uptrend seems to resume again in the Weekly and Daily chart. It is a pair to monitor in the coming period.
Ranking and rating list Week 19
Rank: 8
Rating: + +
Weekly Currency score: Up
Based on the currency score the pair looked interesting in the last 3 months. The GBP is an average currency from a longer term perspective and has a score of 5 and although the score was very low in the previous weeks it seems, based on the different TA charts and the good scores in the last 2 weeks, as if the currency will remain in the coming period at the right level. The JPY is a weak currency from a longer term perspective and had in the last weeks a score of 1 to 3. With currently a Score difference of 7 and the GBP being better classified it is an interesting pair for taking positions in the coming week.
Monthly chart: Up
Weekly chart: Up
Daily chart: Up
Total outlook: Up
GBP/JPY Weekly chart
h3 Possible positions for coming week/h3AUD/CHF
This pair will be analyzed briefly, for more information read the article Weekly Review Strategy Week 15 where the pair was tipped for going short. The CHF is a strong currency from a longer term perspective and has a currency score of 8. The AUD is a weak currency from a longer term perspective and has currently a score of 2. With a Currency score difference of 5 and the CHF better classified it is an interesting pair.
The pair found the downtrend in March but was consolidating a few weeks ago. It seems as if the consolidation is ending and downtrend may resume again in the coming week.
Ranking and rating list Week 19
Rank: 2
Rating: - - -
Total outlook: Down
If you would like to use this article then mention the source by providing the URL FxTaTrader.com or the direct link to this article. Good luck in the coming week and don't forget to check my weekly forex "Ranking and Rating list" and the "Currency Score".
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