Wednesday 23rd (UTC+10) As can clearly be seen with the currency traces placed over the matrix the markets are in a bit of Flux… floating with no real directions over the last few periods.
AUD has continued to weaken over the last 3 periods allowing opportunities to trade against the AUD
ie: AUDCAD, AUDJPY, etc… The USD, CAD have strengthened slightly, displaying opportunities to trade only the against very weak.
Majors to weaken against the JPY are the EUR, GBP, NZD, CHF… with small declining percentages
What is highlighted is that the USD has changed very little in strength over the past few days… it’s mostly been elevated by the other Majors weakening around it… It has been quite a while since the JPY and USD have been at the head of the line…
Predominately a weakening sentiment with opportunities for the following 24 hours…
AUDUSD, GBPUSD, EURUSD, EURCAD (Short) and USDCHF (Long)
Edit: I was late in posting so this information was available 7 hours ago… In future I will post an hour after the New York open as the Asian session is practically comatose trading the last few weeks.
(Please read previous posts to understand the strategy being applied in this thread)
Thursday 24th (UTC+10) Today we can see the Market is starting to show some clarity.
AUSUSD, EURUD, GBPUSD, EURCAD and the USDCHF have all gained serious pips over the previous 36 hours… Demonstrating the gains possible from this simple, indicator free strategy…
The USD is continuing it’s march up the order with the CAD, NZD, CHF, EUR weakening slightly and the AUD extending its weakness more than 1.7% over the last 2 periods…
Now lets roll out the remainder of the week… continue with existing JPY shorts and AUDUSD, GBPUSD, … Short NZDUSD and the remaining majors against the USD except the GBP… Add the previous 3 periods of each Currency and divide by 3 (or 2) and this will give a LT outlook of the overall strength of the separate currencies…
This is where this strategy varies from Dennis’s excellent CSW System… The JPY isn’t really strong, the other majors are currently weak. The JPY consistently goes from hero to zero (1>8, 8<1) rapidly, as has been witnessed this week, keep a close eye on those JPY shorts…
The GBP is very weak and a reversal should be imminent, so monitor the GBP to gain strength prior to the weekend…
Friday 25th (UTC +10) The currencies are starting to unravel after a week of aimless direction.
AUDUSD, GBPUSD, EURUSD, EURCAD, NZDUSD, NZDJPY and USDCHF have garnished over 480 pips for the week and are now shuffling sideways, so time to look at closing down these positions… (CADJPY was going nowhere and was closed on the 24th with a modest 27 pip result)
The AUD, which we have traded against all week… continued on it’s path to the bottom and is now the weakest of the Majors. The GBP has strengthened over the last 3 periods… So I expect this to start to unwind and strengthen over the next 7 days… I don’t usually trade Friday’s due to a general lack of market direction…
Next week will be watching for a Weakening CHF, AUD and possibly NZD… and a strengthening EUR, USD and a predicted GBP… The JPY has had a good run at number one but only due to the weakness of the other Majors… So watch for the JPY slide back into the depths of the matrix…
Monday 28th (UTC +10) The new number one trade the AUDJPY… a pair which was chosen Tuesday 22nd last week (245+ Pips). The GBP is starting it’s run back up the order with a break just inside the -3% figure and a possible opportunity for tomorrow’s SW pairs.
The USD is continuing to strengthen and can be added to our list along with NZD and GBP as strong currencies for tomorrow. The EUR, CAD and CHF are effectively going nowhere and should be avoided until a direction is defined.
Tuesday 29th… USDJPY, GBPAUD, USDCAD for a Buy and AUDUSD, EURNZD for the Sell. The GBPJPY is the pair of interest for this week… And please apply your chosen form of risk management…
For anyone that is interested, I MAP Dennis’s data from the Currency Strength and Weakness Thread on a daily basis… I have posted up the results for anyone to use, copy, study etc… on here, so as not to clutter his brilliant thread.
Hi @makneel, I’m away from my office for the next 5 or so days… I’m think I have them… not sure how far back I have kept those matrix overlays? As soon as I get back I’ll publish them in this thread… Cheers.
Hi Trends
Thanks for providing the Jan and Feb Map Data. Could you also please kindly provide the August Map Data.
I must add this is a phenomenal blog you have here, Kudos to you and everyone here!
A great site mentioning Finviz-one of the best currency strength indicators.Great interface with clear demarcated trends.Some of the unique features it displays are current sentiments of the market.Also the 1 day strategy comes in handy for the individual who is a day trader.Also Finviz can help you design strategies if one is trading in other countries…
For anyone that is interested, I MAP Dennis’s data from the Currency Strength and Weakness Thread on a daily basis… I have posted up the results for anyone to use, copy, study etc… on here, so as not to clutter his brilliant thread.
For anyone that is interested, I MAP Dennis’s data from the Currency Strength and Weakness Thread on a daily basis… I have posted up the results for anyone to use, copy, study etc… on here, so as not to clutter his brilliant thread.
For anyone that is interested, I MAP Dennis’s data from the Currency Strength and Weakness Thread on a daily basis… I have posted up the results for anyone to use, copy, study etc… on here, so as not to clutter his brilliant thread.
For anyone that is interested, I MAP Dennis’s data from the Currency Strength and Weakness Thread on a daily basis… I have posted up the results for anyone to use, copy, study etc… on here, so as not to clutter his brilliant thread.
