In the Currency Strength table, the EUR was the strongest currency while the NZD was the weakest. There were some significant changes last week with the USD gaining 3 points, the CHF gaining 2 points, the NZD losing 3 points. The other currencies remained around the same level of last week with a maximum change in the strength of just 1 point.
The USD, AUD and EUR showed a very strong performance at the end of the week. The EUR and AUD are Strong currencies and fits exactly with the current performance in the Classification and Score that it has and may offer good opportunities to trade long in the coming week. The USD changed classification and is now a Neutral currency. It may offer good opportunities as well.
The NZD and to a lesser extent the CAD showed a weak performance. The NZD is a neutral currency and the CAD a strong currency. None of them fit with the current performance in the Classification and Score. However, the NZD is showing a lot of weakness lately and is the Weakest currency among the Neutral currencies and may become a Weak currency if the current performance continues in the coming week.
Based on the development at the end of last week as described above it seems that going long with the USD, AUD or EUR against the NZD may offer good opportunities.
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.
Average 13 wks. Score
When looking at the Average 13 wks. Score we can see the currencies grouped together according to their classification.
There may be some doubt and in that case it could be a currency that will change its classification in the coming weeks. There are no such currencies at the moment.
