Possible positions for this week
There are many good opportunities in the Top 10 of the Ranking and Rating list. The pairs discussed last weekend in the strategy article remains interesting. These are the EUR/NZD, AUD/CHF and the AUD/NZD.
The AUD/NZD is around a previous bottom and looks for that reason the less interesting of the three at the moment. The other two pairs are showing light increase of momentum lately in the Daily chart.
The NZD remains strong with a currency score of 8 followed by the CHF. The EUR remains the weakest currency followed by the AUD. Based on this information the EUR/NZD and AUD/CHF look very interesting.
FxTaTrader Forex weekly ranking and rating Wk17 / Update Tue. 21-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. The choice and risk is always yours. Thank you.