The “The commodity currencies, CAD, AUD and NZD all fall” – Currency Strength and Weakness for Wednesday 3rd February 2016
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.
Overall there is strength in the JPY, EUR and USD.
Overall there is weakness in the AUD, CAD and NZD.
Trading Directions I am favouring for the next 24 hours
Buy Trades – USD/CAD, EUR/CAD, EUR/AUD
Sell Trades – NZD/JPY, AUD/USD, AUD/JPY, CHF/JPY, AUD/CHF, CAD/JPY, CAD/CHF
VERY IMPORTANT: 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 some suggestions
FREE FOREX WEBINARS THIS WEEK FOR NEW FOREX TRADERS – Click here
There are 2 webinar times this week.
NOTE: “I will not be posting my analysis tomorrow (Thursday 4th February) as I will be travelling at that time. My analysis will resume on Friday 5th February”
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator