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2013-01-31
Daily Currency Strength and Weakness Analysis


EUR is the strongest currency, breaking old highs as it continues in strength.
CHF is the 2nd strongest currency, spiking up past the NZD.
NZD is the 3rd strongest currency, continuing its downward slope.
USD is the 4th strongest currency, edging into weakness.
AUD is the 5th strongest currency, strongly on its way into weakness.

JPY is the weakest currency, losing ground after it keeps trying to strengthen.
GBP is the 2nd weakest currency, show some sudden strength.
CAD is the 3rd weakest currency, edging down.

Ideal currency pairs seems to be:

EURJPY (Long), CHFJPY (Long), EURCAD (Long), CHFCAD (Long) and AUDCHF (Short)

Traders note: If you have been sitting out the trends the JPY has caused, well done!! If not, don’t feel ashamed, it was not an easy ride so far! The fact that CAD is continuing its downward trend gives us some opportunities and if the GBP resumes its downward trend even more trades will pop up. But as we know, only time will tell.

Happy trading!!

 


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