Currency Strength and Weakness for Monday 24th June 2013

[Andrew Mitchem]

Hi Traders,

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.

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.

There have been some weekend gaps at the market open today, especially on the USD pairs.


WEEKLY TRADING NEWS VIDEO and iTUNES PODCAST: View my weekly Forex news video. In this week's video I talk about the how you can trade and profit from using Reversal and Continuation patterns in your trading.
Find out more by clicking on my signature at the bottom of this post.


Overall there is strength in the USD and AUD.

Overall there is weakness in the EUR, CHF and CAD.


Trading Directions I am favouring for the next 24 hours

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


Buy Trades - AUD/JPY, AUD/CAD, AUD/CHF, USD/JPY, USD/CAD, USD/CHF

Sell Trades - EUR/USD, EUR/AUD



To Your Trading Success.
Andrew

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

 

[Davido]

thanks alots

 

[dreamhunter000]

is this all designed?

thanks a lot,
and one more question for me as newone in this market, I wonder if the gold price opposite direction to the USD index,I know few about the whole story,but in my opoion,just feel a little strange,is this all designed?Is there some god untouchable controlling everything?

 

[Obell]

i need trading strategy

thanks very much for all your post all the time mr andrew pls how can i get a trading plan thanks

 

[Andrew Mitchem]

thanks a lot,
and one more question for me as newone in this market, I wonder if the gold price opposite direction to the USD index,I know few about the whole story,but in my opoion,just feel a little strange,is this all designed?Is there some god untouchable controlling everything?

Hi,

With another bearish candle, there's now the possibility of $1300.00 becoming resistance and a further fall in the price.

---

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

 

[Andrew Mitchem]

thanks very much for all your post all the time mr andrew pls how can i get a trading plan thanks

Hi Obell,

Please send me an email and I'll send you some useful tips and information that will help you build your own trading plan.

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