E Forex Strength And Comparison For January 2017

In the Currency Strength table the USD was again the strongest currency for the third month while the AUD was the weakest. The AUD made a dive last month from 6 to 1 and is this month in the range of the Weak currencies. The CAD increased from 4 to 7 points being now in the range of the Strong currencies. All the Currencies remained around the level of the previous week with a maximum difference of 2 points. 

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12 Months Currency Score Strength

The 12 Months Currency Strength and the 12 Months Average are provided here below. This data and the “12 months 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 month, we perform several checks to avoid this.

1. First of all the strength over a period of 12 months. See each row for more information.
2. Then the 12 months average, see the last row called “Avg. 12 M.”
3. The number of months that a currency is stronger than another currency can also be evaluated.
4. The TA Charts for each Time Frame can also be consulted. 

 

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: USD, JPY, NZD. The preferred range is from 6 to 8.
Neutral: AUD, CHF. The preferred range is from 4 to 5.
Weak: EUR, GBP, CAD. The preferred range is from 1 to 3.

All the currencies are within their classification when using the Avg. 12 M. Although the JPY is in a dip for the second month this does not have any effect on the Avg. 12 months Currency Score. The JPY remains the strongest currency in this overview.

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The Strong Currencies