In the Currency Strength table the AUD was the strongest currency for the second week while the CAD was the weakest. The CHF gained 3 points last week. The CAD lost 5 points and the JPY lost 3. All the other currencies remained around the level of the previous week with a maximum difference of just 2 points.
A new page named Statistics and Probabilities has been added to my blog. Most important is to emphasize that “Statistics and Probabilities” are used in my Technical Analyses. It makes it clearer that the overviews provided in my articles are not based on certainties about the future because this is simply impossible. A professional trader is aware of this but for those who may believe that e.g. the “Currency Comparison Table” provided here below is a sure bet, by just trading the pairs with the highest Currency Score Difference, I recommend reading the new page “Statistics and Probabilities”.
13 Weeks Currency Score Strength
The 13 Weeks Currency Strength and the 13 Weeks Average are provided here below. This data and the “13 weeks Currency Classification” are considered for deciding on the preferred range. Because it is not ideal nor desired to change the range for a currency every single week, we perform several checks to avoid this.
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 8 January 2017 and is provided here for reference purposes:
Strong: USD, NZD. The preferred range is from 7 to 8.
Neutral: CHF, AUD, CAD. The preferred range is from 4 to 6.
Weak: JPY, EUR, GBP. The preferred range is from 1 to 3.
When looking at the average 13 weeks’ score the USD remains the strongest of all while the EUR remains the weakest. The currencies are nested around a certain level which makes clear to what classification they fit best. The only currency where this can be doubted is the AUD with an Average 13 weeks’ score of 4,4615. That is a score between the Neutral and Weak currencies.
