Forex Relative Strength Analysis Report For Week Starting 8/30/20

in #forex3 months ago

Some of the world's currencies are accepted for most international transactions. The most popular currencies are accepted for most international transactions are the U.S. dollar, the euro, and the yen. However, the U.S. dollar is the most popular.

And in the foreign exchange market 90% of forex trading involves the U.S. dollar. Thus, when assessing the relative strength of the most popular currencies in the world, it’s always against the U.S. dollar, using the dailytime frame chart.

The “major” forex currency pairs are the major countries that are paired with the U.S. dollar (the nicknames of the majors are in parenthesis).

AUD/USD – Australia dollar (Aussie) vs. the U.S. dollar

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EUR/USD – Euro vs. the U.S. dollar

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GBP/USD – British pound (Sterling or Cable) vs. the U.S. dollar

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NZD/USD – New Zealand dollar (Kiwi) vs. the U.S. dollar

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USD/CAD – U.S. dollar vs. the Canadian dollar (Loonie)

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USD/CHF – U.S. dollar vs. the Swiss franc (Swissie)

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USD/JPY – U.S. dollar vs. the Japanese yen (the Yen)

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Based on the moving averages and the last daily closing price, relative to the moving averages,

the currency relative strength relative to the US dollar is the following:

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Two Weeks Ago

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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