Currency Strength Matrix for week starting 16.12.2016

EUR GBP AUD NZD USD CAD CHF JPY TOTALS
EUR 1 1 0 0 1 0 0 +1
GBP 0 0 0 0 0 0 0 -6
AUD 0 1 0 0 1 0 0 0
NZD 1 1 1 1 1 1 1 +7
USD 0 1 0 0 1 0 0 -1
CAD 0 1 0 0 0 0 0 -5
CHF 1 0 0 0 1 1 1 +3
JPY 0 1 0 0 1 1 0 +1

This Currency Strength Matrix table (above) is updated every weekend, and is calculated based on daily chart structure from close of market each Friday. For a live version of our 'Matrix' please download our MT4 Currency Strength indicator. For more information on this indicator, see below.

 
Currency Strength Matrix indicator available on Metatrader 4



Currency Strength Matrix MT4 indicator

See currency strength like never before with our real time strength indicator. See trend, strength and momentum in the FX markets as it happens, with this dynamic chart indicator, available on Metatrader 4



 

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Matrix score summary table (Weekly Change)

  Last Week This Week Change
EUR 0 +1 +1
GBP -3 -6 -3
AUD +1 0 -1
NZD +6 +7 +1
USD -1 -1 0
CAD -6 -5 +1
CHF +3 +3 0
JPY 0 +1 +1

 

Weekly Market Note

NZD and GBP fill the obvious strongest and weakest positions respectively. In the case of NZD, this is looking very much like an exhaustion signal and I would be cautious of further buying from here. EUR and CAD have been quietly building strength in recent weeks, something that would be very easy to miss if you weren't tracking it. All eyes turn to the FED on Wednesday, with the Euro very well placed to outperform if there is any change in policy.

 
Possible trending buys this week

NZDCAD
 
Possible trending sells this week

GBPNZD, GBPCHF, CADCHF
 


Possible counter trend buys this week

GBPNZD, GBPCHF, CADCHF

Possible counter trend sells this week

NZDCAD
 

NOTE - The trades above are based on the pairings of the strongest and weakest currencies from
our 'Matrix' as we start the new trading week. Please use your own judgement before entering these markets.

If trading counter trend/reversals, please check the charts to see if current trends/phases
are over extended before considering counter trend options.