Weekly Analysis 31/7/2011

I thought that I would add some of my weekly analysis to the blog.   It’s nothing difficult, just the use of a simple technical analysis tool to give me an idea of which currency is strong and which is weak. It takes about 10 minutes every Sunday night and is a quick and easy way to start my trading week and get a snapshot on whats happening.

Weekly Strength:

1. CHF

2. AUD

3. YEN

4. EUR

5.GBP

6. USD

No real surprises there I suppose.  I use the strength, trend and momentum of the weekly charts to help me decide on some of my swing trades. Ideally it usually helps to be buying strength and selling weakness when I trade with the trend.

Happy to take ideas from others about how they view the longer time frames.

 

, , , , , , , , , ,

About FXTraderPaul

A professional Trader and Coach, FXTraderPaul blogs about his adventures from the front-lines of FX Trading. A Trader and educator who can walk the walk as opposed to merely talk the talk!

View all posts by FXTraderPaul

Subscribe

Subscribe to our RSS feed and social profiles to receive updates.

2 Comments on “Weekly Analysis 31/7/2011”

  1. Ant Auger Says:

    I have been short the USD/CHF for a very long time doing a position trade. but I am expecting a pull back soon as it is a long way from the SMA i use, I need to improve my fundermental side of my trading could you explain more about how you come to the above weekly analysis.

    Like

    Reply

    • FXTraderPaul Says:

      Thanks for the feedback Ant. I altered a technique that I was taught by someone else. I simply look at approximately 15 weekly currency charts and between them work out how the 6 currencies relate to each other and from that derive which is the strongest and which the weakest.

      Invariably there’s not much of a surprise e.g. CHF & AUD strong, USD & EUR weak but it does help to get the right mindset at the start of the week.

      Well done on being Short USDCHF. I myself had been short at 0.8736 but it hit my final target long before this further collapse ensured.

      Like

      Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: