The Ranking and Rating list for the coming month shows the following stronger currencies being well represented for going long: USD(4X) followed by the CAD(4X). The weaker currencies are the AUD(4X) followed by the JPY(2X) with the EUR(2X) and GBP(2X).
A nice combination for coming month may be e.g:
- GBP/USD with the EUR/CAD
- USD/JPY with the AUD/CAD
- AUD/USD with the CAD/JPY
Some of the pairs in the Top 10 comply for a longer term trade based on the Technical Analysis (TA) of the Weekly and Monthly chart. For the coming month these seem to be: GBP/USD, USD/JPY, AUD/USD, GBP/CAD and EUR/USD. For more details read both of my articles where the relevant Charts and Tables are provided.
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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.
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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 30 September 2016 and is provided here for reference purposes:
Strong:Â USD, JPY, NZD. The preferred range is from 6 to 8.
Neutral:Â AUD, CHF. The preferred range is from 4 to 5.
Weak: EUR, GBP, CAD. The preferred range is from 1 to 3.
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.
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Currency Score Chart
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 below.
