NZD/USD: Short position opened
A position has been opened for this pair. The NZD is the weakest currency after the AUD. The USD is at the moment the strongest currency, with a score of 8. A short position has been opened on July 1 at 0,6781, and the pair is still in a strong downtrend.
Possible positions for this week
There are many good opportunities this week in the Top 10. When also looking at the Currency Score, all the pairs remain interesting except the EUR/AUD. For the strategy, the AUD/CHF seems interesting. The CHF has a currency score of 7 and the AUD a score of 1 at the moment. The pair also broke through a bottom during the month of June at 0,7080, and this offers an opportunity.
Weekly Ranking and Rating, Week 28 / Update, Tuesday, July 7th, 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.
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.