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Currency Strength and Weakness for Friday 22nd February 2013

Discussion in 'Andrew Mitchem- Daily Strengths and Weaknesses' started by Andrew Mitchem, Feb 21, 2013.

  1. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi Traders,

    9 of the 11 trade directions suggested yesterday ended the day in the correct direction. If you would like to learn how to trade using my proven strategy then make sure you check out my website, free trading tool and free webinars using the link in my signature at the bottom of this post.

    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, USD and GBP

    Overall there is weakness in the EUR and CHF with minor weakness in the NZD



    Today’s Trading Pairs - Likely Strengths and Weaknesses

    Buy Trades - GBP/CHF, USD/CHF

    Sell Trades - EUR/USD, EUR/JPY, EUR/GBP, EUR/AUD, CAD/JPY, CHF/JPY, NZD/JPY


    Wishing you all a fantastic weekend and I look forward to bringing you some more trading suggestions next week.

    Happy Trading,
    Andrew


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

    Learn How To Be Profitable with Forex Trading in the next 90 Days - FREE Webinar>>

     
  2. PIP2YOU

    PIP2YOU Recruit

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    Are your suggestions best placed & traded closer to the European session i.e. late Asian/Australian sessions? I realize an in-depth insight may not be possible; but a broad indications would perhaps assist, on how to capitalize on your suggestions? Gratefully yours Sir.
     
  3. manny

    manny Private

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    thanks andrew.
     
  4. Andrew Mitchem

    Andrew Mitchem Special Consultant to the FPA

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    Hi PIP2YOU,

    Thanks for your question. The strengths and weakness analysis that I make here are valid for 24 hours from the time I make my suggestions.

    IMPORTANT: Please remember though that these are not specific trading signals but more of a "probable direction for the day". Therefore if you are looking at your own trading strategy and you see a good looking opportunity to sell the EUR/JPY and my overall daily analysis suggests the likely direction of the EUR/JPY for the next 24 hours is short, then it would add more probability of success for your own trade.
    The opposite scenario: You may see a Buy trade on the EUR/JPY but my analysis suggests looking for Sell trades. You could take the trade or you may wish to pass on the trade knowing that the likely overall direction for the day for that pair is in the opposite direction.

    I hope this clarifies things.

    Andrew


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

    Learn How To Be Profitable with Forex Trading in the next 90 Days - FREE Webinar>>

     
  5. Harshakguptha

    Harshakguptha Recruit

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    I think its

    bearish for usd and jpy
    bullish for eur, nzd & aud

    thanks
     
  6. greet86

    greet86 Private

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    Hi Andrew u r a great mentor n yur webinar was good but your course is too costly. Anyways u said sell EURJPY for today but in daiky charts it closed above the support at 12290 and now if price action signal comes for upside then I dnt think so its a sell trade. Thogh u r my mentor always but I am not selllng EURJPY its in uptrend in dailg charts n pin candle suggest that it is buy at every drop till support.
     
  7. greet86

    greet86 Private

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    I post a messge in this thread and moderators never approved it and i dnt knw why, but i was ryt and mr andrew sir u r wrong today
     
  8. greet86

    greet86 Private

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    Andrew sir i bought Eurjpy earlier today becoz it has support oat 12290 level n it hvnt breached it yet on daily, so that gves a signal for buyng in eurjpy for 2:1 gains,
     
  9. amalrajh

    amalrajh Recruit

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    I Made 40 Pips on EURUSD as you Told Sir Thank you and keep up cheeers:cool::cool:
     

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