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My Favourite Forex Tool – Currency Strength and Weakness for Wednesday 22nd January 2014

BY , , , , , , ,

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.

My suggestions are posted by 6pm EST each day. 

Another very quiet day yesterday with little in the way of strong setups today. We are still waiting for the volume and the bigger moves to come back into the market for the year. There are also some big news announcements out of the UK and Canada later today which may help.

Overall there is strength in the GBP.

Overall there is minor weakness in the USD and CAD.

Trading Directions I am favouring for the next 24 hours

Buy Trades – GBP/USD, GBP/CAD

Sell Trades – None

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 here for some suggestions

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