Pound remains strong and AUD weakness is reflected in weakness in US stock market
I measure the seven majors against the Yen, here is a short video that explains how the ranking is calculated
Markets continue the back and forth action but the extremes are tightening, I would expect this to continue as the world waits to see if US Fed raises interest rates
Hello Dennis, Is there a particular reason why you use the JPY as the common denominator rather than the USD I like very much the simplicity of your currency strength analysis but I was trying to decide on a way how to analyse and compare one against another on a regular basis but using the USD. I found your video very insightful thank you
Thanks Dennis your video was insightful. Like daboss, Im also interested why you use JPY and not USD as your reference.
Here is my weekly market review video
Hi grantx and daboss
I like to keep things simple, and for that reason I use Yen as my common denominator as it is always listed last against all other currencies, If you use the USD as your common denominator then you will need to have different formulas for calculating when the USD is listed first like in USDCAD and last like in EURUSD. It’s a personal choice and if setup correctly the rankings will be the same using USD or Yen.
1 Like
Monday’s Strong Weak rankings
Slow day as all eyes on fed tomorrow
Well we got our fireworks today as US fed held rates, this sent USD lower and Yen surged, worked out well for me as I was short USDJPY coming into today’s trading
Could this be an inverse Head and Shoulder setup in GBPAUD, I love how symmetrical this one is. We need to see price hold above 1.7000, then a break of the neckline to confirm the pattern. For now I am just watching
What I am Trading
Patients has paid off as my short USDJPY trade taken on Sept 6th has finally started to payoff, in hindsight I should had added to my position on the Sept 14th pinbar, but that is water under the bridge. Where does this go from here, Major support lies at 100.00 , close tomorrow below 100.00 could open things up for a 500 point drop. time will tell
Markets more or less just digested yesterday’s moves, today’s mild pull back in Yen pairs could be setting up the next Yen rally
Here is my short end of week review of the markets
Yen remains strong on a down day for US stocks.
Markets are really dead right now as all eyes are on tonight’s presidential debate. My money is on Trump
USDCAD is trying to break above the 200 day moving average, this still looks like a big bearish flag, a reversal back below the 200 ma would not be a bad place to go short this pair
a little weakness in Yen today but nothing major
What is your formula in computing: Which is strongest/weakest currency?
AUD regains #1 as US stock rally
Here is a short video that explains how I do my rankings