Forex Metrics And Chart April 2018

The Top 10 of the Ranking and Rating list for the coming month shows the following stronger currencies being well represented for going long: the GBP(5X) with the JPY(4X). The weaker currencies are the CAD(4X) followed by the AUD(2X) and the NZD(2X).
By diversifying a nice combination can be traded in the coming month like e.g.:

  • CAD/JPY with the GBP/AUD
  • GBP/CAD with the NZD/JPY

Ranking and Rating list

Analysis based on TA charts for all the major currency pairs. Every month the Forex ranking rating list will be prepared around the change of the month. All the relevant Time Frames will be analyzed and the ATR and Pip value will be set.

For analyzing the best pairs to trade looking from a longer-term perspective the last 12 months Currency Classification can be used in support.
This classification was updated on April 1, 2018 and is provided here for reference purposes: 
Strong: EUR, GBP. The preferred range is from 7 to 8.
Neutral: CAD, CHF. The preferred range is from 5 to 6.
Weak: USD, JPY, AUD, NZD. The preferred range is 1 to 4.

When comparing the 12 months 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.

Currency Score Chart

The Currency Score analysis is one of the parameters used for the Ranking and Rating list which is published also in this article. The Currency Score is my analysis on the 8 major currencies based on the technical analysis charts using the MACD and Ichimoku indicator on 4 Time Frames: the monthly, weekly, daily and 4 hours. The result of the technical analysis is the screenshot here below.
 

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Disclaimer: Besides this article I also use the Forex "Ranking, Rating and Score" which is also available once a week on my blog. In the article "Ranking, Rating and Score" ...

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