Hi Olu & Co,
Thanks for sharing your thoughts/analysis guys. I have special appreciation for the ideas shared on this thread, MPB, and numbnuts's.
Just finished doing some quantitative Strength/Weakness analysis to help me putting things into perspective:
Legend: 1=strongest currency; 8=weakest currency.
Year 2013:
1. GBP
2. EUR
3. CHF
4. USD
5. NZD
6. CAD
7. AUD
8. JPY
2014 YTD:
1. NZD
2. AUD
3. JPY
4. CHF
5. EUR
6. USD
7. GBP
8. CAD
March MTD:
1. AUD
2. NZD
3. USD
4. EUR
5. JPY
6. CHF
7. GBP
8. CAD
Previous Week (including some comments):
1. AUD (inside bar resolved by a bullish engulfing last week reinforces bottoming idea)
2. USD (made a brand new yearly low last week followed by bullish engulfing)
3. NZD (fresh yearly high last week; raising since it broke tightening range to the upside at month's beginning)
4. JPY (been in a tightening range all month, posted a 2nd inside bar last week)
5. EUR (doji at new yearly high followed by a weak close down last week)
6. GBP (falling since it broke a tightening range at month's beginning)
7. CAD (last week it broke daily support, made a fresh yearly low and 100% of 2013 range)
8. CHF (new yearly high just the week before followed by bearish engulfing last week)
Thanks for sharing your thoughts/analysis guys. I have special appreciation for the ideas shared on this thread, MPB, and numbnuts's.
Just finished doing some quantitative Strength/Weakness analysis to help me putting things into perspective:
Legend: 1=strongest currency; 8=weakest currency.
Year 2013:
1. GBP
2. EUR
3. CHF
4. USD
5. NZD
6. CAD
7. AUD
8. JPY
2014 YTD:
1. NZD
2. AUD
3. JPY
4. CHF
5. EUR
6. USD
7. GBP
8. CAD
March MTD:
1. AUD
2. NZD
3. USD
4. EUR
5. JPY
6. CHF
7. GBP
8. CAD
Previous Week (including some comments):
1. AUD (inside bar resolved by a bullish engulfing last week reinforces bottoming idea)
2. USD (made a brand new yearly low last week followed by bullish engulfing)
3. NZD (fresh yearly high last week; raising since it broke tightening range to the upside at month's beginning)
4. JPY (been in a tightening range all month, posted a 2nd inside bar last week)
5. EUR (doji at new yearly high followed by a weak close down last week)
6. GBP (falling since it broke a tightening range at month's beginning)
7. CAD (last week it broke daily support, made a fresh yearly low and 100% of 2013 range)
8. CHF (new yearly high just the week before followed by bearish engulfing last week)
"To hold, you must first open your hand. Let go." - Lao Tzu