The Top 10 of the Ranking and Rating list for the coming month shows the following stronger currencies being well represented for going long: the NZD(3X) with the EUR(3X) followed by the CAD(2X). The weaker currencies are the JPY(4X) followed by the USD(3X) with the GBP(3X).
A nice combination for the coming month may be e.g:
Ranking and Rating list
Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Every month the Forex ranking rating list will be prepared around the change of the month. 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 12 months Currency Classification can be used in support.
This was updated on 2 July 2017 and is provided here for reference purposes:
Strong: USD, NZD. The preferred range is from 7 to 8.
Neutral: JPY, AUD, CHF. The preferred range is from 4 to 6.
Weak: EUR, GBP, CAD. The preferred range is from 1 to 3.
When comparing the 12 months 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 traded in the Daily chart or in a lower Time Frame. 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 3 Time Frames: the Monthly, Weekly and Daily. The result of the technical analysis is the screenshot here below.
