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Currency Strength and Weakness for Friday 7th June 2013

BY , , , , ,

Hi Traders,

Again some excellent feedback from people who made some excellent returns using yesterday's suggestions – keep those emails coming as it's great to hear of your success.

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.

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

Overall there is weakness in the USD, AUD, NZD and CAD.

Trading Directions I am favouring for the next 24 hours

VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given below. 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



Today we see the monthly US Non-Farm Payroll announcement (at 8:30am EST) so be careful with any open trades around that time. I would definitely look to be closed out of any trades taken on the H4 charts or below before the announcement.
It’s been a fantastic week’s trading but today there are several reasons to be cautious. The US NFP is one reason but when looking at the D1 charts there are many pairs which have hit previous strong support or resistance levels.

To Your Trading Success.
Andrew Mitchem