Forex Ranking & Rating W47 / 16-11-2014. Analysis on 4 time frames with the Ichimoku & MACD indicator

Besides the Ranking and Rating list provided here I have also prepared this weekend the Weekly Currency Score list which will support my analysis for trading in the coming week which is then followed by my Review on the Hybrid Grid strategy.

When looking at the Weekly Ranking and Rating list we can see that for the coming week the USD and NZD are both well represented(3x) as the stronger currencies in the Top 10 of the list. The JPY(5x) is clearly the weaker currency followed by the GBP(3x) and the EUR(2x).

All the JPY pairs presented in the Top 10 of the list are looking overbought in the Weekly charts being above the Upper Bollinger Band. For intra week trading it seems best to wait for a pull back below this Band. There have been some pull backs during the last few weeks in e.g the USD/JPY, AUD/JPY and the CAD/JPY. However, in the last few weeks there were also other interesting pairs and according to the rules of the FxTaTrader Hybrid Grid strategy the preference goes to 2 pairs chosen for trading. If a possibility comes around with a JPY pair it will be analyzed for possible trading. In case that the current AUD/USD position remains open in the coming week for my strategy then the AUD/JPY long seems a good opportunity. This way any temporary strength in the AUD will be taken advantage of until the AUD becomes weaker again and the AUD/USD continues its way down. The above described is one of the recent updates in the strategy, please read the following article for more information FxTaTrader Hybrid Grid Strategy.

The other interesting pairs for the coming week at this moment besides the JPY pairs on pull back are the EUR/USD, EUR/NZD and the GBP/USD all for going short. Even if the latter one are the 2 stronger currencies from a longer term perspective it is clear that the GBP is the weaker one. This can clearly be seen in the Currency score of this week.  I will explain more in my next article which will be published later on in this weekend.

The mentioned pairs EUR/NZD with the GBP/USD can both be traded at the same time according to the rules of the FxTaTrader Hybrid Grid strategy because these are all different currencies. By not trading the same currency in the same direction more than once you may have better chances with lower risk.
A JPY pair like the CHF/JPY, AUD/JPY and CAD/JPY may look interesting also to be added making it the maximum amount of pairs(3) being reached according to the rules for the strategy. 


Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. Visit FxTaTrader.com for more info and Disclaimer. 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.

There will be 2 updates during the week on Tuesday and Wednesday. The Daily and 4 Hour chart will then be analyzed and updated.
This makes that there will be no more than 48 trading hours between each update. This is a reasonable period when considering that the smallest time frame used is the 4 hours, meaning 12 price bars/candlesticks.

The Forex ranking and rating list is meaningful data for my FxTaTrader Hybrid Grid strategy. Besides this list I also use the Currency Score which is available once a week on this blog also together with my weekly analysis on my Hybrid Grid Strategy.

Although the explanation may seem simple and clear there is always risk involved. I added a disclaimer to my blog for this purpose. If you like to use this article then mention the source by providing the URL FxTaTrader.com or the direct link to this article. Good luck in the coming week and don't forget to check this weekend my weekly Forex "Currency Score" and the "Review Hybrid Grid".

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DISCLAIMER: The articles are my personal opinion, not recommendations, FX trading is risky and not suitable for everyone.The content is for educational purposes only and is aimed solely for the use by ‘experienced’ traders in the FOREX market as the contents are intended to be understood by professional users who are fully aware of the inherent risks in forex trading. The content is for 'Forex Trading Journal' purpose only. Nothing should be construed as recommendation to purchase any financial instruments. The choice and risk is always yours. Thank you.