Low Trading Range in Forex Markets – Currency Strength and Weakness for Tuesday 27th May 2014
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.
Yesterday was an extremely quiet day as predicted due to the public holiday in the UK and the US and this has led to most pairs showing complete indecision. The daily range yesterday was minimal for most pairs, with many recording a daily range under 30 pips.
Overall there is very minor strength in the EUR and CAD.
Overall there is minor weakness in the JPY.
Trading Directions I am favouring for the next 24 hours
Buy Trades – EUR/JPY
Sell Trades – NONE
VERY IMPORTANT- PLEASE READ: These are not specific trades. Do not blindly place trades in the directions given above. 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