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2013-04-12
Daily currency Strength and Weakness Analysis


NZD is the strongest currency, slowing down a bit with sideways movement.
GBP is the 2nd strongest currency, continuing to show strength.
AUD is the 3rd strongest currency, still losing ground.
CHF is the 4th strongest currency, pushing for more bullish price action.
CAD is the 5th strongest currency, continuing its sideways movement.

JPY is the weakest currency, losing more and more value.
USD is the 2nd weakest currency, a bit flat after it lost strength.
EUR is the 3rd weakest currency, soon to be one of the stronger currencies.

Ideal currency pairs seem to be:

NZDJPY (Long), GBPJPY (Long), NZDUSD (Long), CHFJPY (Long) and EURJPY (Long)

Traders note: With the bit of sideways movement from the NZD we will see the momentum in the NZDJPY and NZDUSD taper down a bit… so the price movement will also be sideways (flat candles). Any sideways energy in the currencies causes loss of momentum. This could be a sign of the market taking a breath or air for a new push or change of direction. So we hang in there till we get confirmation of either the possibilities.

Happy Trading!!

 

 


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