Currency Strength Matrix for week starting 12.11.2017

EUR GBP AUD NZD USD CAD CHF JPY TOTALS
EUR 0 1 1 0 1 1 0 1
GBP 1 0 0 0 0 1 1 2
AUD 0 0 1 0 0 0 0 -2
NZD 0 0 0 0 0 0 0 -5
USD 1 1 1 1 1 1 1 7
CAD 0 0 0 1 0 0 0 -2
CHF 0 0 0 0 0 0 0 -4
JPY 1 0 1 1 0 1 1 3

This Currency Strength Matrix is calculated based on daily chart structure from close of market on Friday.
(Update 21/10/17) Total scores have been added to bring table in line with our MT4 Currency Strength indicator. For more information on this indicator, see below.


 
Currency Strength Matrix indicator available on Metatrader 4



Currency Strength Matrix 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 3 1 -2
GBP 3 2 -1
AUD -1 -2 -1
NZD -6 -5 +1
USD 6 7 +1
CAD -3 -2 +1
CHF -2 -4 -2
JPY 0 3 +3

 

Weekly market note:

The US Dollar reached a near 3 year high this week as its strength score hit a maximum of +7 for the first time since December 2014. Often a sign of a currency peaking, we could see the dollar lose some ground through the reminder of the month. Elsewhere, the weaker currencies, NZD, AUD and CAD have stabilized and could benefit from the dollar taking a rest. With equities struggling this week, the Yen also shone but its price action continues to suggest that a break above 114 vs the dollar is very possible.


Possible trending buys this week

USDCHF
 
Possible trending sells this week

NZDUSD, CHFJPY, NZDJPY
 


Possible counter trend buys this week

NZDUSD, CHFJPY, NZDJPY

Possible counter trend sells this week

USDCHF
 

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.