Currency Strength and Weakness for Monday 24th February 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 with minor strength in the USD.

Overall there is minor weakness in the GBP, AUD, JPY and NZD.


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 - EUR/GBP, EUR/AUD, EUR/NZD, CHF/JPY

Sell Trades - GBP/USD, GBP/CHF, AUD/CHF, NZD/CHF


VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given below. 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: Watch my weekly Forex news video.

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"Is It Worth Paying For Forex Education?"

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Find out more by clicking on my signature at the bottom of this post.


Have a great week ahead.
Andrew

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

 

[syrah]

The question should be 'When Do You Stop Paying For Forex Education?'

 

[Andrew Mitchem]

The question should be 'When Do You Stop Paying For Forex Education?'

Hi Syrah,

Yes that's a good point. Some people spend an enormous amount of money on education. I had someone tell me just last week how he'd spent over $50,000 on various courses over the years.

Where I like to be different is the vast majority of my coaching clients are achieving excellent results as I mentioned in this week's video. Of course the success rate is not 100% but it is very high.

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

 

[kgashane]

Hi Andrew,

Would you like to share with us the process you follow to determine the strength and weakness of the currencies?

 

[Andrew Mitchem]

Hi Andrew,

Would you like to share with us the process you follow to determine the strength and weakness of the currencies?

Hi kgashane,

I'm sorry but I can't as that is reserved for my coaching clients. What I can tell you is the analysis is purely based on technical research.

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