Forex Metrics And Charts – November 2017

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 EUR(4X) followed by the USD(3X) and the CAD(2X). The weaker currencies are the CHF(4X) followed by the NZD(3X) and the AUD(2X).
By diversifying a nice combination can be traded in the coming month like e.g.:

Ranking and Rating list

Analysis based on TA charts for all the major currency pairs. Good luck to all. No advice, just info. 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.

There were a lot of classification changes last month. Here below you can see the old classification followed by the most current one:

Old Classification

Strong: USD, NZD, AUD. The preferred range is from 6 to 8.

Neutral: EUR, CAD, CHF. The preferred range is from 3 to 5.

Weak: JPY, GBP. The preferred range is 1 to 2.

New Classification

This classification was updated on 6 November 2017 and is provided here for reference purposes: 

Strong: USD, EUR, CAD. The preferred range is from 6 to 8.

Neutral: AUD, NZD. The preferred range is from 4 to 5.

Weak: JPY, GBP, CHF. The preferred range is 1 to 3.

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.