Hi Forex Trader,

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 today in Australia and also in the Northern region of New Zealand.

Overall there is strength in the JPY, CHF and USD with minor strength in the CAD.

Overall there is weakness in the AUD, GBP and NZD.

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 – GBP/JPY, GBP/CAD, GBP/CHF, AUD/USD, AUD/JPY, AUD/CAD, AUD/CHF, NZD/USD, NZD/JPY

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.

WEEKLY FOREX TRADING VIDEO and iTUNES PODCAST: Watch my weekly Forex news video.

In this week’s video I talk about:

“Tips and Advice of How to Manage Your Stop Loss”

Join over 12,300 other traders like you from around the world who listen to my Podcast each week on iTunes.

Find out more by clicking here.

Have a great week ahead.
Andrew

 


– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator