Forex Currency Correlations
The Swiss Franc is enjoying it’s safe haven status and looking strong on the 4 hour, daily and weekly timeframe versus the other major currencies.
Both EUR/CHF and USD/CHF have seen record lows recently and could easily decline further. Retail traders will no doubt be looking to pick a bottom but institutional traders are pushing price to new lows.
The New Zealand dollar has also also gained this week and is the highest ranking currency on 4 hour and daily according to the forex currency correlation charts. The Aussie dollar also has my attention heading into this coming week. As always withthis way of trading, I will favour all of these currencies for long trades if I can trade them against the weaker ones highlighted below.
At the negative end of the charts the CAD and US dollar are currently the weakest and therefore I will potentially be aiming to sell these currencies if a relevant opportunity comes.
If you are interested in learning more about this way of analysing currency strength see this forex currency correlation strength post.
