The Canadian Dollar weakens against all the major currencies – Currency Strength and Weakness for Thursday 5th May 2016
Hi Forex Trader, I make my suggestions every day based on where I see the market heading over the next 24 hours. Use my analysis below to aid your trading and to help you keep on the right side of the market.
My suggestions are posted by 6pm EST each day.
Overall there is minor strength in the EUR, USD and GBP.
Overall there is weakness in the CAD with minor weakness in the NZD and CHF.
Trading Directions I am favouring for the next 24 hours
Buy Trades – USD/CAD, USD/CHF, GBP/CAD, EUR/CAD
Sell Trades – CAD/JPY, CAD/CHF
VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given above. Use your own trading strategy and look at taking setups that occur in the same direction as my daily analysis. If you don't have your own trading strategy then email me here for help..
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– Andrew Mitchem
The Forex Trading Coach Professional Forex Trader and Educator