It’s been a quite couple of trading weeks but I’m still going through my trading routine. Here’s the weekly currency strength analysis:
1. CHF
2. YEN
3. AUD
4. EUR
5. GBR
6. USD
So no major changes on the weekly strength front (despite volatility and intervention)
If we look at the daily strength we get a better idea of some of the volatility happening at the moment.
1. YEN
2. CHF
3. EUR
4. GBR
5. USD
6. AUD
We can see that the CHF intervention has had an impact with it no longer being the number 1 strong currency. Probably more interesting is also the steep sell-off of AUD which has occurred over the last month or so and also the strengthening of the EUR despite the ongoing challenges within the Euro zone.
Naturally we await to see if such daily changes filter through into the weekly outlook.
Hope it helps. Until next time, trade well.
FXTraderPaul
August 30, 2011
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