USD Strength and the US Employment Data – Currency Strength and Weakness for Friday 7th November 2014
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.
** Remember that we have the US Non-Farm Employment change data out later today (Friday 8:30am EST, New York Time) so be careful with any open positions around that time **
Overall there is strength in the USD with minor strength in the CAD and JPY.
Overall there is weakness in the CHF, GBP and EUR.
Trading Directions I am favouring for the next 24 hours
Buy Trades – USD/CHF, CAD/CHF
Sell Trades – EUR/USD, EUR/JPY, GBP/USD, CHF/JPY
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 help.
A free copy of my Forex journey “From Dairy Farmer to Forex Trader” is available on video, mp3 or PDF file by clicking here
Have a fantastic weekend.
– Andrew Mitchem
The Forex Trading Coach
Professional Forex Trader and Educator