Forex Strength And Comparison For Week 46 / 2016

The USD was the strongest currency and the EUR the weakest. The GBP succeeded to get a score of 5 after having been below this score for 9 weeks. The JPY lost a lot of strength and is in a dip with a score of 2. For more details read both of my articles where the relevant Charts and Tables are provided. 

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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. 

1. First of all the strength over a period of the last 13 weeks is considered. 
2. Next the 13 weeks average is considered, see the last row called “Avg. 13 wks.”
3. The number of weeks that a currency was stronger than another currency can also be considered.
4. The TA Charts for each Time Frame could also be consulted.

 

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 25 September 2016 and is provided here for reference purposes:
Strong: USD, JPY, NZD. The preferred range is from 6 to 8.
Neutral: CHF, AUD. The preferred range is from 4 to 5.
Weak: EUR, GBP, CAD. The preferred range is from 1 to 3.

The USD(Strong) has an average score equal to the JPY(Strong) and is this week clearly stronger than the AUD(Neutral). This was in the previous weeks doubtful but with again a high score last week it seems as this currency will remain strong for the coming period.

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The Weak Currencies

The EUR had a peak in the last period but is back again to the lower range. The GBP got stronger in the last 2 weeks and is the strongest currency of the weak currencies. The Average score of the GBP is still the lowest of all currencies and it seems like a lot has to change before this Average score comes near the other weak currencies. Below you can see the Weekly Currency Score Chart with the 6 months data as a reference.