Hi Forex Trader,
A great start to the New Year with yesterday's strength and weakness analysis providing many excellent trading opportunities on the shorter time frame charts. 12 of the 15 pairs made good moves in the anticipated direction.
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 strength in the NZD, JPY, AUD, CAD and CHF.
Overall there is weakness in the EUR, USD and GBP.
Trading Directions I am favouring for the next 24 hours
Buy Trades – NZD/USD, AUD/USD
Sell Trades – EUR/JPY, EUR/AUD, EUR/NZD, EUR/CHF, GBP/JPY, GBP/AUD, GBP/NZD, GBP/CAD, GBP/CHF, USD/JPY, USD/CHF
VERY IMPORTANT- PLEASE READ: 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 here for help.
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To Your Trading Success.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator