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 on a Tuesday, there are very few good quality setups due to the lack of clear activity on Monday.
Following the public holidays in Japan, the US and Canada yesterday, the large weekend gaps that appeared on many pairs plus the current fiasco within the US Government, many pairs formed either complete indecision candles yesterday or they simply retraced their weekend gap.
Overall there is strength in the NZD and AUD.
Overall there is weakness in the JPY, CHF and USD.
Trading Directions I am favouring for the next 24 hours
Buy Trades – AUD/USD, AUD/JPY, AUD/CHF, NZD/USD, NZD/JPY
Sell Trades – None
VERY IMPORTANT- PLEASE READ: 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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– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator