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.
As is often the case, Monday provided very little price action which makes selecting high probability trades a difficult process for today. Today is a day to be concentrating on the shorter time frame charts and/or having a day away from trading.
Overall there is mild strength in the USD and CAD.
Overall there is mild weakness in the AUD and JPY.
Trading Directions I am favouring for the next 24 hours
Buy Trades – USD/JPY, CAD/JPY
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 help.
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To Your Trading Success.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator