Daily Currency Strength and Weakness Analysis

EUR is the strongest currency, resuming its strength with vigor.
NZD is the 2nd strongest currency, weakening a bit this morning.
AUD is the 3rd strongest currency, continuing to lose ground since early this week.
USD is the 4th strongest currency, showing great improvement after this week?s weakness.

JPY is the weakest currency and it seems to have resumed its weakness.
GBP is the 2nd weakest currency, pulling up slightly after the weeks of weakness.
CHF is the 3rd weakest currency, having a bounce of strength since yesterday.
CAD is the 4th weakest currency, stabilizing sideways this morning.

Ideal currency pairs seems to be:

EURJPY (Long), USDJPY (Long), EURCAD (Long) and USDCAD (Long)

Traders note: If we look at all the pairs with the top 8 currencies in you will find very long candles on the daily charts, this means absolute volatility! The daily range in price is astounding and makes our markets even riskier! Be careful with over exposing yourself and make sure you keep your position size in correlation to your account size. The biggest emotion that hampers the success of the average retail trader is GREED!!! And believe me, it creeps up in you slowly but surely stopping you form closing the trade when you have made good profits? If this is one of your problems, close 50% of the volume and leave the rest to see what happens.


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Forex Risk Warning