Currency Strength Matrix for week starting 21.01.2018

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

This Currency Strength Matrix is calculated based on daily chart structure from close of market on 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 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 2 2 0
GBP -3 1 +4
AUD 5 4 -1
NZD 4 4 0
USD -6 -7 -1
CAD 1 0 -1
CHF -2 -1 +1
JPY 0 -2 -2

 

Weekly Market Note

The US Dollar is the first currency to reach a strength/weakness extreme in 2018, having reached the extreme weakness score of -7 in the past week. Users of the Matrix will know this is often a reversal signal however and a sign a market has become exhausted. The 4 hour strength Matrix (taken from our MT4 indicator) shows a significant increase for the USD, and I expect that to permeate through to the daily charts in the coming week. Be prepared for a bounce in the this week Dollar, which will be ideal for reversal or smaller time frame traders.


Possible trending buys this week

NZDUSD, AUDUSD
 
Possible trending sells this week

N/A
 


Possible counter trend buys this week

N/A

Possible counter trend sells this week

AUDUSD, NZDUSD
 

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.