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Strength and weakness analysis
This is a strength and weakness indicator.
Above the 0 line indicates strength and below indicates weakness. We want to know which currency is performing weak and which is strong so we can match them in an ideal pair.
Above we are seeing NZD performing the best and the EUR the worst. Now take note that the indicator is on a 4 hour timeframe indicating the last 4 hours' activity.
As you can see the GBP and CAD is strong but their movement is "flat" without direction. AUD and JPY are at a crucial point, still deciding where they want to be. CHF and EUR have a tendency to "walk" together...
Looking at this in theory the best pair seems to be EURNZD...
Looking at the 4 hour chart of the EURNZD there is a trend but our MACD is indicating that the negative momentum is decreasing... so we wait...
You still remember: Trading = Sitting on your hands...
Till next time!
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