When looking at the Top 10 in the Weekly Ranking and Rating list we can see that for the coming week the following stronger currencies are well represented for going long: CHF(3X) with the AUD(3X) followed by the JPY(2X). The weaker currencies are the GBP(4X) followed by the USD(3X) and the NZD(2X).
Nice combinations for coming week may be, e.g:
These are just a few examples and many other combinations are possible. The mentioned pair combinations can be traded at the same time according to the rules of the FxTaTrader strategy because these are all different currencies. By not trading the same currency in the same direction more than once in the same timeframe you may have better chances with lower risk.
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Ranking and Rating list for Week 12 / 20-March-2016
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 3 months currency classification can be used in support.
This was last updated on 28-February-2016 and is provided here for reference purposes:
Strong: USD / JPY / NZD. The preferred range is from 6 to 8.
Average: CHF, EUR, AUD. The preferred range is from 3 to 5.
Weak: GBP, CAD. The preferred range is from 1 to 2.
The charts are provided in the following article: “Forex Currency Score Classification for Wk9”.
When comparing the 3 months currency classification with the pairs mentioned in the Ranking list above, some would then be less interesting. On the other hand these pairs are on the top of the list partly also because of their volatility. It seems then best to take positions for a short term and take advantage of the high price movements.
