The USD was the strongest currency and the EUR the weakest. The AUD is in a dip with a score of 2 and the CAD on a high with a score of 6. The JPY lost a lot of strength in the last weeks but seems to stabilize and the GBP gained a lot of strength but seems to stabilize also. For more details read both of my articles where the relevant Charts and Tables are provided.
______________________________________
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.
- First of all the strength over a period of the last 13 weeks is considered. See each row for more information.
- Next the 13 weeks average is considered, see the last row called “Avg. 13 wks.”
- The number of weeks that a currency was stronger than another currency can also be considered.
- The Technical Analysis (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: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.
The JPY (Strong) is now the weakest one of the strong currencies but still a lot stronger compared to the Neutral currencies. It succeeded last week to have a Score of 3 and gained 1 point but is still far outside the range of the strong currencies, 6 to 8.
The GBP (Weak) is almost similar to previous week but it lost 1 point having a Score of 4. The 13W. Average Score is still the lowest of all but now getting close to the CAD Weak) while the GBP (Weak) has been clearly a lot weaker compared to all the currencies in the last period.
Until now the Classification made on 25 September 2016 is valid for 9 weeks. As it seems it will remain this way for the coming weeks because the distances between the Average 13 wks. Score of the currencies in each Classification are too far from the other Classifications. This can easily be seen by checking the Average 13 wks. Score of the Neutral currencies. These are in the range of 4,4615 and 4,7692 and more than 1 point higher than the Weak currencies. However it is only +/- 0,7 points away from the Strong currencies so the JPY (Strong) seems vulnerable.
