For the coming week, the following stronger currencies are well represented for going long: USD(3X) with the CHF(3x) followed by the AUD(2X). The weaker currencies are the EUR(3X) with the JPY(3X) followed by the CAD(2X).
A nice combination for coming week may be e.g:
- EUR/USD with the CAD/CHF
- EUR/AUD with the USD/CAD
- USD/JPY with the EUR/CHF
- AUD/JPY with the EUR/USD
Some of the pairs in the Top 10 comply for a longer term trade based on the Technical Analysis (TA) of the Daily and Weekly chart. For the coming week these seem to be: EUR/USD, USD/JPY, EUR/CHF and USD/CAD. 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 week the Forex ranking rating list will be prepared in the weekend. 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 13 weeks Currency Classification can be used in support.
This was updated on 25 September 2016 and is provided here for reference purposes:Â
Strong:Â USD, JPY, NZD. The preferred range is from 6 to 8.
Neutral:Â CHF, AUD. The preferred range is from 4 to 5.
Weak: EUR, GBP, CAD. The preferred range is from 1 to 3.
When comparing the 13 weeks 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 trades in the 4 Hour chart or in a lower Time Frame. Nevertheless they may offer good chances for the short term trader.
