Examining some figures

I am trying a new idea of examining strength (or maybe sentiment) of some currencies. Taking the average of the trend scores (as of today) that I am using. No rocket science, just some statistics to be considered before making trade.

A scale from -100 (strong downtrend) to +100 (strong up trend)

YEN

GBP/JPY -55

USD/JPY -55

AUD/JPY +70

CAD/JPY -55

Average : -23.75. Yen scores +23.75 . This is rather flat.

AUSSIE

AUD/USD +60

AUD/JPY +70

AUD/CAD +90

GBP/AUD -75

Average: +73.75. Australian dollar is still in uptrend, though it is not as strong yet.

USD

USD/JPY -55

GBP/USD +55

EUR/USD +80

USD/CAD -70

Average: -65. It shows Dollar is in downtrend, but, it is a weak downtrend at the moment.

I am still going with Aussie dollar, at the moment. Though I would be happier if it gets a little bit stronger now. :o:

The tools that I use to generate trend score

Comments

Historical comments are preserved here. New comments are closed.

Caravaggio2008-02-13 13:00:00 UTC

Hi Trader Gav. These rates could also tweaked by weighting them according to the importance. For example, for the yen indicator, CAD/JPY would have a low weight because it is of lesser importance to the yen than say USD or AUD (a la the 'trade-weighted index'). : )

Gav2008-02-13 20:24:00 UTC
Hey Caravaggio, that's a good point. I will incorporate it into my next calculation. Cheers!

Caravaggio2008-02-13 13:00:30 UTC

Gav2008-02-13 20:24:47 UTC
Hey Caravaggio, that's a good point. I will incorporate it into my next calculation. Cheers!

Jay2008-02-14 16:18:00 UTC

And then use it as a contra-indicator!

Gav2008-02-14 20:42:00 UTC
LOL. Yeah, Jay, I was thinking about the same thing before... But, let's see how it works out..

Jay2008-02-14 16:18:58 UTC

And then use it as a contra-indicator!

Gav2008-02-14 20:42:56 UTC
LOL. Yeah, Jay, I was thinking about the same thing before... But, let's see how it works out..

Examining some figures

Comments

Recommended FX Charting

Recommended Training