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 and GBP with minor strength in the CHF and JPY.
Overall there is weakness in the USD with minor weakness in the CAD and AUD.
Trading Directions I am favouring for the next 24 hours
Buy Trades – GBP/USD, GBP/CAD, EUR/USD
Sell Trades – USD/CHF, USD/JPY
Strong news out of NZD today has resulted in a large move for the NZD pairs. In yesterday’s analysis I mentioned to look for NZD strength and while that is likely to continue today, the NZD/USD, NZD/JPY, AUD/NZD, GBP/NZD and EUR/NZD have already made some large moves. Therefore if trading these pairs today on the shorte time frame charts, look to trade in the overall direction but after a pullback.
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