Forex Diary for the week ending 19th Nov 2021
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good week for Red GBP - by Thursday it hit +140 pips north
Green USD and Yellow JPY swung north late in week - JPY swung some +140 pips from wednesday lows
Blue Euro ruled the sells...to -130 pips by Friday - Euros having a real bad period at the moment from Covid scares and its dovish stance on interest rates in the face of inflation......
Yellow Yen , Grey CHF and even Orange AUD all came bear by Friday to -50 pips at times
Trade of the week ?
Euro was the easy goto sell most of the week .......only Thursday did it rally.... only to be killed again on Friday again
GBP was a screaming buy mon-late Wed......
USD was bullish most of the week so crosses favoured selling the weaker currencies into it
Strengthmeters like this have given me a tremendous insight into the FX market for the last 21 years ....no magic boxes / no circus tricks or Gimmicks ....very few Forex Traders use Relative strength in Their Trading and lose as a result .....