Currency Strength Matrix for week starting 19.11.2017

EUR GBP AUD NZD USD CAD CHF JPY TOTALS
EUR 0 1 1 0 1 1 0 3
GBP 1 0 1 0 0 1 1 3
AUD 0 0 1 0 0 0 0 -2
NZD 0 0 0 0 0 0 0 -6
USD 0 1 1 1 1 1 0 5
CAD 0 0 0 1 0 0 0 -3
CHF 0 0 0 0 0 1 0 -2
JPY 0 0 1 1 0 1 0 2

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

 

Weekly market note:

We stated last week that having reached a 3 year high in terms of strength, that the US Dollar would be open to giving some ground back as so it has been. Both EUR and JPY gained significantly against the dollar, with EUR in particular looking strong and capable of performing well over the coming weeks. AUD, NZD and CAD remain under pressure and are the obvious selling targets.



Possible trending buys this week

EURNZD, EURCAD, GBPNZD, GBPCAD, USDCAD
 
Possible trending sells this week

NZDUSD
 


Possible counter trend buys this week

NZDUSD

Possible counter trend sells this week

EURNZD, EURCAD, GBPNZD, GBPCAD, USDCAD
 

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.