In the Currency Strength table, the USD was the strongest currency while the CHF was the weakest. There were some significant changes last week with the CAD gaining 3 points and the GBP losing 3 points. The other currencies remained around the same level of last week with a maximum change in the strength of just 1 point.
The CAD showed a very strong performance at the end of the week. The USD showed a steady and strong performance during the whole week. The CAD is a Strong currency and fits exactly with the current performance in the Classification and Score that it has.
The USD is a Neutral currency and do not fit exactly with the current performance in the Classification and Score that it has. However, being Neutral currencies it may offer some good opportunities against the Weak currencies.
The AUD showed a very weak performance at the end of the week and to a lesser extent the EUR and GBP. The CHF showed a weak performance during the whole week. The GBP and CHF areNeutral currency and do not fit exactly with the current performance in the Classification and Score that it has. However, being Neutral currencies it may offer some good opportunities against the Strong currencies.
Based on the development at the end of last week and the steady performance of the currencies during the last week as described above it seems that going long with the USD or CAD against the GBP or CHF may offer good opportunities. If this is being confirmed by the analysis in both of my Weekly articles and the charts are looking in the right direction it is even better.
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.
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