Forex Metrics And Chart Week 3 / 2018

The Top 10 of the Ranking and Rating list for the coming week shows the following stronger currencies being well represented for going long: the NZD(5X) followed by the AUD(2X). The weaker currencies are the USD(4X) followed by the CHF(3X).
By diversifying a nice combination can be traded in the coming week like e.g.:

  • NZD/USD with the AUD/CHF
  • EUR/USD with the NZD/CHF
  • Ranking and Rating list

    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 for the weekend. All the relevant Time Frames will be analyzed and the ATR and Pip value will be set.

     

    For analyzing the best pairs to trade looking from a longer-term perspective the last 13 weeks Currency Classification can be used in support.
    This was updated on 7 January 2018 and is provided here for reference purposes:
    Strong: EUR, GBP, and CAD. The preferred range is from 6 to 8.
    Neutral: USD and AUD. The preferred range is 4 to 5.
    Weak: JPY, NZD, and CHF. The preferred range is from 1 to 3.

    When comparing the 13 weeks Currency Classification with the pairs mentioned in the Ranking List above some would then become less interesting. On the other hand, these pairs are at the top of the list partly also because of their volatility. It seems best to take positions for a short period then and take advantage of the high price movements.
    With the FxTaTrader Strategy, these pairs are not traded because these would be trades in lower Time Frames than the 4 Hour chart. Nevertheless, they may offer good chances for the short term trader.

    Currency Score Chart

    The Currency Score analysis is one of the parameters used for the Ranking and Rating list which is published also in this article. The Currency Score is my analysis on the 8 major currencies based on the technical analysis charts using the MACD and Ichimoku indicator on 4 Time Frames: the monthly, weekly, daily and 4 hours. The result of the technical analysis is the screenshot here below.

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    Author: Travis Esquivel

    Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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