Currency Strength and Weakness for Monday 18th August 2014

[Andrew Mitchem]

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 EUR and CHF

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


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 (Sunday US time)



Buy Trades – CHF/JPY

Sell Trades - AUD/CHF, NZD/CHF, USD/CHF, CAD/CHF, XAG/USD


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.



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

In this week's video I talk about:

"Why it’s Important to Stick to a Set of Rules when Trading Forex"


Find out more by clicking by signature below.


Have a great week ahead.
Andrew Mitchem

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- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?
Learn how I do it>>

 

[ahmer]

Hi Andrew,

I am curious about your Analysis for today. There is not strength in EUR/CHF. I have read many blog posts and suggestions and no one is looking to buy these two currencies at this stage. CHF/EUR little strength was caused by bad News data for USD on Friday 15 Aug 2014. It was just a reflection of bad friday.

 

[Andrew Mitchem]

Hi Andrew,

I am curious about your Analysis for today. There is not strength in EUR/CHF. I have read many blog posts and suggestions and no one is looking to buy these two currencies at this stage. CHF/EUR little strength was caused by bad News data for USD on Friday 15 Aug 2014. It was just a reflection of bad friday.

Hi Ahmer,

As I mentioned on my post, analysing the market at the beginning of the week can be quite hard. On Friday the CHF in particular was strong and there was a good chance of that continuing into the next week. In the end that didn't eventuate, resulting in very few good setups in the directions I was anticipating. The result of this is just a quiet day of trading as so often happens on a Monday.

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- Andrew Mitchem
The Forex Trading Coach
30 minute a day "full time" forex trading?
Learn how I do it>>