Weakness in the GBP, while the AUD strengthens – Currency Strength and Weakness for Wednesday 5th August 2020
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.
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Overall there is strength in the AUD and CAD, with minor strength in the EUR and CHF
Overall there is weakness in the GBP and USD, with minor weakness in the NZD and JPY
Trading Directions I am favouring for the next 24 hours
Buy Trades – EUR/USD, EUR/GBP, AUD/USD, AUD/JPY, AUD/NZD, CAD/JPY, XAU/USD, XAG/USD
Sell Trades – USD/JPY, USD/CHF, USD/CAD, NZD/CAD, GBP/CHF, GBP/CAD, GBP/AUD
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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.
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– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator