Weakness in the USD after Poor Employment Data Results – Currency Strength and Weakness for Monday 10th May 2021

Hi Forex Trader,

I make my Currency Strength and Weakness 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.

For The Forex Trading Coach clients, login here https://theforextradingcoachcourse.com/ to get your exact entry and exit points for today’s recommended pairs.

Overall there is strength in the EUR and CHF, with minor strength in the AUD and GBP  

Overall there is weakness in the USD and CAD, with minor weakness in the JPY

Trading Directions I am favouring for the next 24 hours

IMPORTANT: Just to let you know that Monday’s trade analysis, when the market opens at the beginning of the new week (Sunday if you are in the US/Europe) are usually the hardest to pick and if you wanted a day off trading, that would generally be the day to choose. The reason being; I am looking at the previous week’s prices and the new open prices for the week when making my analysis on a Monday and of course many things can happen between the close of the market one week and the opening of the market the next week and the market sentiment can often change. Just bear this in mind each Monday (Sunday US time)

Buy Trades – EUR/USD, EUR/JPY, GBP/USD, AUD/USD, AUD/JPY, EUR/CAD, AUD/CAD

Sell Trades – USD/CHF, CAD/CHF, USD/SGD     

Disclaimer: My clients have full access to my Currency Strength Weakness trading strategy, including specific trades each day that include the exact entry, stop loss and profit targets.
Use your own trading strategy and look to take trades that setup in the same direction as my daily analysis. If you don’t have a trading strategy, just CLICK HERE and I’ll send you some information to help you out.

WEEKLY FOREX TRADING VIDEO and iTUNES PODCAST:

In this week’s video I talk about:

“#410: 12 Years of Helping Traders, Will You be Next?”

 

Signup Below to Receive my Daily Analysis to your Inbox


Have a great week ahead.
Andrew Mitchem


– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator

Quick Links

FAQs

Contact
About Andrew
About Paul
Testimonials
Privacy
Disclaimer
Cookie Policy

Resources

Free eBook
Free Risk Calculator
Are You New to Trading Forex?
Are You About To Give Up Trading?
30 Minute Forex Trader Update
Online forex video course
One on One Coaching in Person
One on One Coaching – Online

© 2021 The Forex Trading Coach Ltd (NZ FSPR:FSP37396) provides general information and educational courses and materials only. This is not an offer to buy/sell financial products. We do not provide personal advice nor do we consider the needs, objectives or circumstances of any individual. Financial products are complex and all entail risk of loss. Over-the-counter derivative and foreign exchange products are considered speculative because they are highly leveraged and carry risk of loss beyond your initial investment, hence should only be traded with capital you can afford to lose. Please ensure you obtain professional advice to ensure trading or investing in any financial products is suitable for your circumstances, and ensure you obtain, read and understand any applicable offer document.

Latest Podcasts / Videos

#416: How to Achieve Time Freedom

How to Achieve Time Freedom  Podcast: #415: Get a copy of our Traders App In this video: 00:31 – Feedback from our live weekly webinar 01:23 – How to achieve time freedom 02:00 – I look at the charts twice a day 03:04 – The beauty of trading...

#415: Get a copy of our Traders App

Get a copy of our Traders App  Podcast: #415: Get a copy of our Traders App In this video: 00:23 – 2 announcements to inform you about 00:39 – Our new traders app 02:02 – The next FX Insiders webinar 03:20 – Recap of the 2 announcements this...

#414: It’s Time to Get Real

It’s Time to Get Real  Podcast: #414: It’s Time to Get Real In this video: 00:23 – Keep it real 01:04 – We fail to recognise the effort required to succeed 01:32 – A trading example 03:22 – You need to understand the market 04:42 – You need...

#413: How to Increase the Reward:Risk of Your Trades

How to Increase the Reward:Risk of Your Trades  Podcast: #413: How to Increase the Reward:Risk of Your Trades In this video: 00:29 – An easy technique which will increase your profits 00:53 – Most traders focus only on Win Rates 01:52 – How do...

#412: Achieving Great Trading Results

Achieving Great Trading Results  Podcast: #412: Achieving Great Trading Results In this video: 00:24 – At the airport today 01:13 – Sharing comments from clients 01:42 – XAU/USD MN1 trade closes for 10.1:1 Reward:Risk 02:14 – Weekly Oil trades...