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.
There is a public holiday on Monday in the USA and Canada so be careful if trading any pairs involving these currencies today. This could also lead to a slow start to the week all round.
There have been weekend gaps on many pairs starting the new week.
Overall there is minor strength in the GBP.
Overall there is minor weakness in the EUR and JPY.
Trading Directions I am favouring for the next 24 hours
IMPORTANT: Just to let you know that Monday's trade analysis, when the market opens at the beginning of the new week (Sunday if you are in the US/Europe) are usually the hardest to pick and if you wanted a day off trading, that would generally be the day to choose. The reason being; I am looking at the previous week's prices and the new open prices for the week when making my analysis on a Monday and of course many things can happen between the close of the market one week and the opening of the market the next week and the market sentiment can often change. Just bear this in mind each Monday.
Buy Trades – NONE
Sell Trades – NONE
There are no pairs that are standing out as being particularly strong or weak given the recent price action and the weekend gaps.
WEEKLY FOREX TRADING VIDEO and iTUNES PODCAST: View my weekly Forex news video.
In this week's video I talk about:
“Do you have the right mind set to be a successful Forex Trader?”
Have a great week ahead.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator