Forex Strength And Comparison For Week 18 / 2017

In the Currency Strength table, the GBP was the strongest currency while the CAD was the weakest. There were some significant changes last week with the USD and EUR gaining 3 while the JPY lost 4 points and the NZD 3 points. The other currencies remained around the same level of last week with a maximum difference of just 1 point.

13 Weeks Currency Score Strength

The 13 Weeks Currency Strength and the 13 Weeks Average are provided here below. This data and the “13 weeks Currency Classification” are considered for deciding on the preferred range. Because it is not ideal nor desired to change the range for a currency every single week, we perform several checks to avoid this.

 1. First of all the strength over a period of the last 13 weeks is considered. See each row for more information.
 2. Next, the 13 weeks average is considered, see the last row called “Avg. 13 wks.”
 3. The number of weeks that a currency was stronger than another currency can also be considered.
 4. The Technical Analysis (TA) Charts for each Time Frame could also be consulted.

For analyzing the best pairs to trade looking from a longer-term perspective the last 13 weeks Currency Classification can be used in support.
This was updated on 9 April 2017 and is provided here for reference purposes:
Strong: USD, JPY, AUD. The preferred range is from 6 to 8.
Neutral: CHF, NZD, CAD. The preferred range is from 3 to 5.
Weak: EUR, GBP. The preferred range is from 1 to 2.

When looking at the Average 13 wks. Score the JPY is the strongest of all and the EUR the weakest.
The currencies are grouped together around a level which makes clear to what classification they fit best. It is clear to see in the Avg. 13 wks. values to what groups the currencies belong. This is not the case for the GBP which had 5 strong weeks in a row lately. It is very near to the CAD which is a Neutral currency. However, the CAD was also 7 times the stronger currency in the last 13 weeks compared to the GBP. For now, the GBP remains a weak currency but it may become a Neutral currency in the coming period.

Classification review

This week we take a look at the weak currencies. These are getting very strong lately and the GBP is even the strongest currency of last week. This currency started 5 weeks ago with an uptrend which can clearly be seen in the chart. Below you can see the Weekly Currency Score Chart with the 6 months’ data as a reference.