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 in Japan today so be careful if trading any of the JPY pairs today. Several pairs are showing indecision and others have had massive weekend gaps. **
Overall there is strength in EUR, CHF and USD.
Overall there is weakness in the AUD and GBP.
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
WEEKLY FOREX TRADING VIDEO and iTUNES PODCAST: Watch my weekly Forex news video.
In this week's video I talk about:
“Why you need a good trading plan to help you become a successful Forex trader”
Have a great week ahead.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator