The EURO tumbles further – Currency Strength and Weakness for Friday 5th September 2014
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.
I hope you were able to profit from yesterday’s strength and weakness analysis with all 7 pairs closing the day in the anticipated direction. This provided several excellent trade setups across a variety of charts.
Remember that we have the US Non-Farm Employment Change data out later today so be careful with any open positions at that time.
Overall there is strength in the AUD, CAD and USD.
Overall there is weakness in the EUR, CHF and GBP.
Trading Directions I am favouring for the next 24 hours
Buy Trades – USD/CHF, AUD/CHF, CAD/CHF
Sell Trades – EUR/USD, EUR/JPY, EUR/AUD, EUR/NZD, EUR/CAD, GBP/USD, GBP/JPY, GBP/AUD, GBP/NZD, GBP/CAD, CHF/JPY
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.
A free copy of my Forex journey “From Dairy Farmer to Forex Trader” is available on video, mp3 or PDF file by clicking here
Have a fantastic weekend.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator