This forex market analysis spreadsheet will provide any amateur or professional market analyst or trader a clear and repeatable method for analyzing 8 currencies and 28 pairs. The spreadsheet allows traders to break down the 28 pairs into individual currencies to identify strong and weak currencies. Forex traders who have struggled in the past will now have a full understanding of what currencies and pairs are moving and trending, day after day, without layers of technical indicators.
Every week we put the forex market analysis spreadsheet into action during our Monday night webinars. This forex market analysis spreadsheet can be filled out manually fairly quickly for one group of currency pairs. For example you can analyze the USD pairs quickly with this spreadsheet (USD/JPY, USD/CHF, USD/CAD, AUD/USD, etc.) Then you can repeat the process on any currency using the same simple procedures. The spreadsheet combines multiple time frame analysis with individual currencies to get a total handle on the current market conditions. It is truly the most thorough method of forex market analysis, and far superior to any forex technical analysis. The spreadsheet simplifies the forex market analysis process and works for 8 currencies across 28 pairs.
Download The Spreadsheet
The forex market analysis spreadsheet is a Macro Enabled Excel sheet for use with Microsoft Office version 2007 or newer. Microsoft Excel is not forex market analysis software, it is spreadsheet software that we have adapted for our market analysis method. Click on the link right here and the analysis spreadsheet will open and load into your browser. Then if you click on it, it will display on the screen in any browser, you can then save it to your hard drive if you wish.
Fill Out The Forex Market Analysis Spreadsheet
First of all make sure you have downloaded the metatrader platform and set up the free trend indicators that we provide to all forex traders and clients. To fill out the spreadsheet, print a hard copy, then arrange the 28 currency pairs in the order of listed on the sheet. For example, start with the EUR/USD, then the GBP/USD, etc. Once you have all 28 pairs set up you can open up the spreadsheet with Microsoft excel. The first time you open the document you will have to enable Macros. This is usually a button near the top of the sheet that’s says “enable content”. You are now going to list the trend direction on the H4, D1, and W1 time frames for each currency pair. Under each time frame you will be given 3 simple options:
1) Up = Uptrend 2) Down = Downtrend, or 3) No trend.
Once you fill out the 3 time frames for each currency pair, then look at the graphs on the right and see if they match up with the examples. If they completely line up on a specific time frame, then it represents the individual currency is completely strong or completely weak and trending on that specific time frame. That would encourage you to do a more thorough analysis on that currency to see if what pairs can be part of your daily trading plans. Then continue this process for 28 pairs.
Overview Of The Forex Market Analysis Spreadsheet
The forex market analysis spreadsheet is broken into 2 areas. The first area on the left is a list of 28 pairs with the 3 major time frames listed. There are drop down boxes in each time frame that allow you to identify and fill in the trends. You simply identify the trends for 3 major time frames in all 28 pairs.
This information auto populates the second area on the (right side). This area consists of grids that represent individual currencies. There is a guide on the far right of these grids which you use to compare to see if there is consistent individual currency strength or weakness. These individual currency grids and guides are set up to look somewhat similar to The Forex Heatmap®. This will aid in the visual recognition of the alignment of the individual currency strength and weakness analysis and allow traders to master trade entries with the heatmap. We use The Forex Heatmap® for our trade entry management. By conducting a daily forex market analysis this way, the analytical method we use matches the trade entry method we use, so everything in our trading system is consistent.
Practicing Forex Market Analysis
Every Monday Forexearlywarning has forex market analysis webinars that anyone can attend. We show you how to use the spreadsheet and practice analyzing the market on one currency during our live forex webinars. Any forex trader can join us for these webinars to see how we analyze the market to prepare our daily trading plans. These webinars are video recorded and archived.
Individual Currencies Versus Pairs
Every currency pair consists of two separate currencies, each currency has different properties. For example the EUR/USD has the EUR is an individual currency and the USD is an individual currency. You trade the pair but you must analyze the two currencies separately before trading. Most traders look at the pair but do not separate the currencies for analysis. You must separate them in order to find the individual currency strength or weakness, to give you the best possible overall market analysis, and individual pair analysis. To analyze the EUR individual currency you must find all seven major currency pairs with the EUR on the left. When you look at all the seven pairs containing the EUR and analyze them based on just the EUR you can discover whether the EUR individual currency is strong, weak, neutral or mixed. This can become a little challenging to keep track of when you are new to parallel and inverse analysis. That is where the spreadsheet becomes very handy. Just by providing the trends on the 28 pairs on 3 time frames, it will automatically “Separate” the currency pairs information into the individual currencies and provide a simple visual map of the forex that looks somewhat similar to The Forex Heatmap®.
The spreadsheet simplifies parallel and inverse analysis for any level forex trader, and provides an easy to use visual guide for individual currency strength and weakness via inspection of the major trends. All you have to do is identify the 3 large trends, or lack of trend on all 28 currency pairs. This tool will easily allow you to analyze the major trends of currency pairs and have it automatically split that information into the two individual currencies and show you the individual currency strength and weakness. You quickly can compare the two currencies that comprise the pair.
This simple spreadsheet it will make you feel like a parallel and inverse analysis veteran and you will know whether the individual currencies in the market are strong weak, or mixed. You will have more information than 95% of all forex traders do, plus you create a consistent approach in your forex market analysis today, tomorrow and every day. After you are finished filling out the spreadsheet you can easily figure out what pairs have a higher probability of continuing their trends, and you can write a trading plan for those pairs, accordingly.