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 have been some huge gaps at the beginning of the week on many pairs **
Overall there is strength in the GBP, NZD and JPY.
Overall there is weakness in the USD and CAD.
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 – GBP/USD, GBP/CAD, NZD/USD
Sell Trades – USD/JPY
WEEKLY FOREX TRADING VIDEO and iTUNES PODCAST: Watch my weekly Forex news video.
In this week's video I talk about:
“How to spread your risk when trading Forex” – looking at different pairs and different time frame charts.
Have a great week ahead.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator